Ormond Beach Mayor Ed Kelley takes stock of Stockton, Calif's financial woes

Ormond Beach Mayor Ed Kelley / Headline SurferORMOND BEACH -- Mayor Ed Kelley gave his city commission colleagues and the public a dose of reality regarding unfunded pension liability issues.

According to the minutes of the April 2 Ormond Beach City Commission meeting, the mayor said Stockton, Calif., recently became the largest city to file for bankruptcy in the U.S. Kelley said Stockton was almost a billion dollars in debt and was driven to that primarily by unfunded pension liabilities.

Kelley noted that the municipality could not include the pensions in the bankruptcy, because they were in the California pension system.

Henry Frederick Picture

Short Bio

Henry Frederick is publisher of Headline Surfer®, the award-winning 24/7 internet news outlet covering the Daytona Beach-Sanford-Orlando metro area via HeadlineSurfer.com since 2008. A longtime cops & courts reporter focused on breaking news & investigative reporting, Frederick is among the Sunshine State's most prolific daily news reporters, having amassed close to a hundred award-winning byline stories narly eveenly split in print and digital platforms. Frederick earned his Master of Arts in New Media Journalism with academic honors from Full Sail University in Winter Park in February 2019. He was a metro reporter with the Daytona Beach News-Journal for nearly a decade and then served as a city editor for the Taunton Daily Gazette in Taunton, Mass, while maintaining a residence in Central Florida. Prior to moving to Florida, Frederick was a metro reporter for the Rockland Journal-News in Wst Nyack, NY, for seven years. Headline Surfer was named the Sunshine State's top internet news site by the Florida Press Club in 2018.