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Multnomah County’s Preschool for All program is at risk of missing one of its main goals: universal access to preschool, according to a new audit of the program.

While the county forecasted ending the latest fiscal year with $260 million left unspent for Preschool for All, it instead ended with $485.4 million, about $225.4 million more than expected.

The preschool effort is funded by a 1.5% marginal tax on earnings of more than $150,000 per year for an individual and over $200,000 for households.

Preschool for All is funded by an income tax on Multnomah County's highest earners: 1.5% on income above $125,000 dollars for individuals or income above $200,000 for joint filers.

The new initiative, like the preschool itself, is paid for by the Bainum Family Foundation, a Washington DC nonprofit that made a $100-million, five-year commitment to early childhood issues in 2024.