This report compares Florida'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 Florida is doing in narrowing the academic achievement gap between African American, Latino, or low-income students and their white, middle class peers, the report presents NAEP data by race, ethnicity, and family income. The report presents other state-level data on Florida's 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 2002, 55 percent of all 4th graders were proficient or above in reading on the state's assessment, while only 23 percent of 4th graders performed at the proficient level on the 1998 NAEP assessment. Significantly more white than black 4th graders were proficient or above in reading in 1998. In 2002, 53 percent of all 8th graders were proficient or above in mathematics. Florida did not participate in the 2000 NAEP 8th grade mathematics assessment. Florida' African American-white 4th grade reading achievement gap was 17th among the states in 1998. African American students represent 25 percent of the public K-12 enrollment, but a considerably smaller percentage take Advanced Placement (AP) exams. Asian American students have an extremely high rate of AP test taking. About 28 percent of Florida's high school students enroll in college, compared to 54 percent nationwide. Nearly three in ten Florida secondary classes are taught by teachers lacking a major or minor in the field. African American students are disproportionately represented in special education and underrepresented in gifted education. Districts with higher child poverty rates and higher minority enrollments have the fewest state and local dollars to spend per student. (SM)