During a recent Village Council Workshop held on May 12, 2025, in Wellington, significant discussions centered around the allocation of funds from a recent foreclosure case involving Wellington and Palm Beach Polo. The council is set to receive approximately $9.3 million from this case, and plans were proposed to establish a new reserve fund aimed at supporting environmental resilience and open space initiatives.

The council expressed a strong desire to dedicate $6 million of the received funds into this new reserve. This reserve will be governed by a policy that aligns with the Governmental Accounting Standards Board (GASB) regulations, specifically GASB Statement No. 54, which pertains to fund balance reporting and definitions. The remaining $3.3 million is recommended for the Acme Improvement District's stormwater pump stations improvement plan, a multi-year project focused on renovating and replacing key pump stations in the area.

The proposed resolutions for budget appropriations and the establishment of the new reserve were discussed, with an emphasis on ensuring that the funds would be used in compliance with council approvals and budgetary processes. Additionally, a replenishment strategy was suggested, which would automatically allocate 5% of any unassigned fund balance exceeding a target of 30% into the new reserve, making this process non-discretionary.

The council plans to revisit these discussions in future meetings, allowing for further questions and clarifications. This initiative reflects Wellington's commitment to enhancing its environmental efforts and infrastructure, addressing both immediate and long-term community needs.