Little Walnut Creek Conservancy District was established under Indiana statute as a unit of local government in 1967 for the purpose of flood control and recreation.
The district obtained grant under the PL-566 program from the federal government (NRCS) for all of the construction and engineering costs attributable to flood control and 50% of the cost attributable to recreation. The state (IDNR) also contributed some grant funds. Exceptional benefits were assessed against certain properties for the district's share of the costs and the general tax rate contributed in the early years.
Little Walnut maintains three flood control structures:
- Structure 3 (private)
- Structure 4 - Glenn Flint Lake (public)
- Structure 5 - Madison Hills Lake (private)
All of these structures are deemed "high hazard" due to their size and/or homes and other development located below their dam.