New Hoboken Police Chief -- Cost to Taxpayer

Hi -

I was wondering if someone could help explain the logic in getting rid of the current police chief and replacing him with 2 other positions (Chief and Deputy Chief).

Unless my math is off the Hoboken taxpayer got seriously cheated in this deal.

1 old police chief @ $220k plus $350k payout and pension

1 new police chief @ $153k (NJ State recommended new chief salary not exceed $153k)
1 new deputy chief @$150k (NJ State recommended new deputy chief salary not exceed $150k)

So in total this deal cost the Hoboken taxpayer $433k ($350k payout + $150k deputy salary which is a new position less $67k saving on new police chief salary)

For a city that needs to look for budget savings this deal is terrible. While Hoboken residents focus on fundraising to save the Boys and Girls Club pool perhaps the mayor should focus on wasteful government spending. Does anyone in our city council have a finance background????

I would love to hear everyone's thoughts. Thanks.