In Yolo County, a total of $42,809,731 was taken out of school-allocated property taxes to pay State obligations in 2010-2011. $32,957,784 was redirected to satisfy the State's VLF backfill obligation. $9,851,947 was redirected to pay for the State's 2004 Economic Recovery Bonds.
Source: State Controller's Office, Local Government Reporting Section. (City and county detail shown in the reports, totals upon request from the SCO.)
Yolo County schools received over $46 million after children left for the summer in 2012, $31 million of which was deferrals. In addition to losing all of their Educational Revenue Augmentation Fund to the VLF Swap and Triple Flip, an additional $4.6 million was taken out of the schools' base property tax to meet the State's obligations. Hardest hit was Washington Unified, with almost a quarter of its annual funding arriving after the end of the school year.
Over $43 million will be taken out of Yolo County schools' local property taxes to fund the state's debts this fiscal year. Yolo County K-12 school districts will see at least $12,566,621 still owed to them when the school year ends (June 2014), including $2.1 million to Davis Joint Unified, $2.9 million to Washington Unified, and $4.3 million to Woodland Joint Unified. These numbers may increase by as much as 50% in the Second Principal Apportionment later in the school year.
Community College Districts serving Yolo County will also face deferrals: Los Rios as much as $28 million deferred systemwide, Solano $5 million, and Yuba over $4 million.
In the most recent available data (2011-12), $43,448,665 was taken out of Yolo school-allocated property tax, $32,556,310 for the VLF "Swap" and $10,892,355 to pay for the 2004 Economic Recovery Bonds.
Can Yolo County students afford to finance the state's debts? According to the new Local Control Funding Formula, Yolo County needs 59.3% more funding to adequately educate its student population than it's getting this school year.
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, First Principal Apportionment.