Oregon — Oregon’s High School Graduation and College and Career Readiness Fund recorded more than $356.1 million in expenditures during the 2023-25 biennium, according to a state audit that found no material financial reporting problems or reportable instances of noncompliance.
The Oregon Secretary of State Audits Division concluded that the fund’s financial statements fairly presented its financial position as of June 30, 2025, in accordance with generally accepted accounting principles.
The fund, commonly associated with Measure 98 and the High School Success program, supports dropout prevention, career and technical education, and opportunities for students to earn college-level credit. Oregon voters approved Measure 98 in 2016 with 65% support.
Of the fund’s $356.1 million in biennial expenditures, approximately $339.9 million went to local school districts and another $13.8 million went to nongovernmental recipients. The Oregon Department of Education reported nearly $2.3 million in salary and wage expenses and about $59,600 for services and supplies.
Funding primarily came through transfers authorized by the Legislature. The fund received approximately $147.2 million from the state General Fund and $177.6 million from other state funds, for total financing transfers of about $324.9 million.
Expenditures exceeded revenues and transfers by approximately $31.2 million during the biennium. As a result, the fund balance declined from $32.2 million at the beginning of the period to approximately $981,600 on June 30, 2025. The remaining balance was legally restricted for purposes established by the program’s enabling legislation.
The fund reported nearly $62.2 million in assets at the end of the biennium, including $24.5 million in cash and cash equivalents and $37.6 million due from other funds. It also reported $61.2 million in accounts payable.
According to the report, the fund had active grant agreements totaling approximately $366.4 million as of June 30, 2025. About $349.4 million had been disbursed to school districts and charter schools serving students in grades nine through 12, leaving approximately $17 million in undisbursed grant commitments.
Auditors did not identify any internal-control deficiencies they considered material weaknesses. Their testing also found no instances of noncompliance or other matters required to be reported under federal government auditing standards.
The audit did not evaluate whether the funded programs improved graduation rates or students’ readiness for college and careers. Auditors also did not issue an opinion on the overall effectiveness of the Education Department’s internal controls or its compliance with all applicable requirements. The review was limited to the fund’s financial statements and selected compliance matters.
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And who signs their paychecks? Of course coming in 47th in education, out of 50 states, Oregon in no way shape or form got a clean bill.