Mary Gibson, Cathedral Center Principal, started in her new role at the school in August of 2012.
She says she was notified this week that the IRS reportedly filed a more than $300,000 lien against the school.
"I was not made aware of the lien issue until yesterday and so I can just let you know we're looking in to it and taking measures hopefully we will start assembling a team to prevent something like this from happening again," Gibson said.
Gibson says there is a plan in place to re-pay the debt, however she would not discuss the plan any further.
"I believe that a plan has been made to take care of the tax issue. I don't have the details yet exactly on that plan," said Gibson.
Monsignor William Beibel says several factors play in to the issue.
"It's a matter of paying salary, insurance and utilities and it's a challenge to keep all that going and other things too, certainly taxes," said Msgr. Biebel.
Gibson says she is confident this will not affect the schools 274 students and 20 teachers.
One payment out of at least ten has been paid.
School officials expect to have the debt paid off by the fall.