In a medium bowl, mix together flour, sugar, baking powder, and salt. Cut in lard until mixture resembles coarse meal.
In a separate bowl, whisk together water, egg yolk, vanilla extract, and vinegar. Stir into flour mixture and knead dough briefly, just until smooth. Allow to rest 15 minutes before rolling out. Pastry is easier to work with when chilled. Can be stored in refrigerator for up to 1 week.