Ah yes, now I see that the red and black are attached to a power switch which is wired in series with one of the VAC connections. A transformer would then hook up to the pads labelled VAC as evandude teaches.
It is kind of unusual to have a power switch on the output side of a transformer, so one might speculate that some other AC source is used. Or perhaps the primary of the transformer is not accessible or serving other functions, like the 28volts used in hardwired home heating systems, where the transformer is attached to an electrical box? Well, who knows?
It is also a bit odd to have a floating copper pour like this board has, but then I would guess that the maker was trying to spare his etchant chemical the burden of etching those areas.