A UNC-Chapel Hill daycare center more than 40 years old is getting chopped by the budget axe.

The child care center at the Frank Porter Graham Child Development Institute will close in July 2013, according to this memo on the institute's website.

"The decision to close in no way reflects on the quality of the program or its importance in the community," the memo reads in part. "Budget reductions have driven us to this decision. With ongoing budget recutions by the state and other grant agencies, FPG cannot continue to subsidize the costs of operating a high-quality, inclusive early care and education program."

The institute itself is in no jeopardy, the memo states.