The closure of the Southern Swimming Pool would save the Department of Education, Sport and Culture around £434k a year.
That's according to government, which says regional pools are funded through local rates that amount to around £92,000 and an annual £1.75m government subvention.
Minister Julie Edge says there isn't enough money to maintain the status quo in this extremely challenging climate.
She added that they'll continue to explore all available options to ensure children and the wider community in the South will be able to attend lessons, clubs and enjoy swimming.
A report which sets out future options for the Island's regional swimming pools will be made public on Monday.
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