Money used by the State of Indiana from county property tax replacement credit and homestead credit in 2003 will soon be repaid to Carroll County to settle the debt by the state.

According to state budget director Chris Ruhl, through a series of legislative acts, the distribution, begun last year, was increased to complete repayment in 2008 rather than the planned 2009 debt retirement plan. Ruhl explained the state kept the cash and delayed payments from the two funds to balance the budget that year so that it would not end the year with a negative balance.

"We view this as an obligation," Ruhl said Friday.

Carroll County is slated to receive $689,011 by the end of May, a year ahead of schedule. According to Ryan Kitchell of the state budget office, schools would be receiving their usual appropriation funding.

"As the only state in the Midwest that is in the black fiscally, we're being extremely careful about every dollar," Gov. Daniels said in a press release Friday. "But the very strong March and April revenues strengthen our confidence that we will register a fourth straight surplus this year and that we can accelerate this final repayment of the debts the state once owed to schools and towns."

"With this year's property tax cuts, we've entered a new era of taxpayer protection. We know there will be an adjustment period for local taxing units and want to do all we can to help," he added.

"We have to keep in mind that the total amount received has to be shared with other governmental taxing entities and the schools," county council president Nancy S. Cripe said Tuesday. "The amount for our county general line item will be much less than the $689,011. It will be good to get, but won't amount to exactly a windfall for us."

"The council will discuss and direct exactly how the money will be handled by the auditor at our Thursday night meeting," Cripe concluded.