Sierra County K-12 schools will see a minimum of $188,369 still owed to them at the end of this school year (June 2014). Over $380,000 will have been taken out of schools' local property taxes to fund the state's debts. In the most recent available data (2011-12), $386,427 was taken out, $338,343 for the VLF "Swap" and $48,084 to pay for the 2004 Economic Recovery Bonds.
In Sierra County, a total of $372,364 was taken out of school-allocated property taxes to pay State obligations in 2010-2011. $342,666 was redirected to satisfy the State's VLF backfill obligation. $29,698 was redirected to pay for the State's 2004 Economic Recovery Bonds.
Sources: State Controller's Office, Local Government Reporting Section. (City and county detail shown in the reports, totals upon request from the SCO.) California Department of Education, 2013-14 First Principal Apportionment.