OXFORD – The initial run of the Oxford school budget looks too good to be true. And it is, according to district officials.

“I anticipate further reductions and/or cuts in staff and resources before a final budget is adopted in April,” Superintendent Randy Squier said in a memo which went out to the district’s faculty and staff on Thursday.

The draft budget, presented to the Oxford Academy and Central School District board of education at a special budget meeting Wednesday, calls for a half a percent increase in spending. Funding the $17,108,544 spending plan will require the district to increase the local tax levy by 1.99 percent and dip into its unreserved fund balance for $537,945.

“We have been fortunate that we have built up our fund balance (unexpended money) over the years that allows us now to allocate those funds in order to avoid drastic cuts,” the superintendent said.