This report compares Oregon's reading and mathematics performance on the most recent administrations of the state assessment with performance on the National Assessment of Educational Progress (NAEP). To indicate how Oregon is doing in narrowing the academic achievement gap between African American and Latino students and their white, middle class peers, the report presents NAEP data by race/ethnicity. The report presents other state-level data on K-college education, including demographic distribution across each educational level, participation and success in Advanced Placement, percentage of students taking high-level courses, school funding gaps, and high school and college graduation rates. In 2000, 73 percent of all 5th graders met or exceeded reading/literature state standards, with significantly more white than Latino students meeting or exceeding standards. On the 1998 NAEP 4th grade assessment, 61 percent of students performed at the basic level, while 28 percent were proficient or better. In 2000, 56 percent of all 8th graders met or exceeded state standards in mathematics, with significantly more white than Latino students meeting or exceeding standards. On the 2000 NAEP mathematics assessment, 72 percent of 8th graders performed at the basic level or better, while 32 percent were proficient or above. Oregon's Latino-white 4th grade reading achievement gap fell 23rd among the states in 1998. In 2000, Oregon had the 10th smallest Latino-white 8th grade math achievement gap nationwide. Latinos are underrepresented in Advanced Placement exam taking and in enrollment in gifted and talented programs. About 32 percent of Oregon high school students enroll in college, compared to 54 percent nationwide. Over one-quarter of Oregon's secondary classes are taught by teachers lacking a major or minor in the field. Districts with the highest child poverty rates, and those with the highest minority enrollments, have the most state and local dollars to spend per student. (SM)