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FOLLOW THE MONEY!

In 2005, Hoboken contracted with an outside accounting firm to manage the City's financial records at a cost of $300,000 per year. During the past three years, the City has spent almost a million dollars for outside accounting services which were previously the responsibility of the CFO and Finance Department employees.

The outside firm was brought in to enhance the overall efficiency of the City's accounting system and, if all went well, the City would move to privatize Finance Department after a one year trail period.

But the promise of readily available financial data, the competence to make decisions, and the ability to detect and correct problems throughout the budget year all fell apart when the recent audit found a serious lack of cash controls and the failure of the City's daily accounting system to detect millions of dollars in declining anticipated cash collections.

Watch this short video as Hoboken 4th Ward Councilwomen Dawn Zimmer questions City CFO George Destefano about his daily duties in the Hoboken Finance Department as he worked along side the private accounting firm.

Wimpy Wasp Video Preview

Councilman asks.... Is a million bucks in cash, [that's FOUR MILLION quarters weighing almost 50,000 pounds], missing from the Hoboken Parking Utility "parking meter" collections revenue?

The town was buzzing when at the Hoboken City Council FY2008 Budget Hearing, December 6, 2007, Third Ward Councilman Michael Russo, who also serves as Chairman of the City's Finance Committee, asked if there was one million dollars missing in "parking meter" cash revenues. Russo reversed himself at the December 19, 2007 meeting by saying he made a mistake.

At the February 6, 2008 City Council meeting, the topic of discussion was the recently received FY2007 (July 1, 2006 - June 30, 2007) budget audit which was seven months late. Fifth Ward Councilman Peter Cunningham's reaction to the audit report comments on the City's control of cash was "For God sake, clearly, this audit indicates that we have got money going out the back door and something needs to be done about it."

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Recent News

Hoboken to hire 15 new cops tomorrow

Hoboken to hire 15 new cops tomorrow

Tuesday January 22, 2008, Jersey Journal

Fifteen new cops will be sworn in tomorrow in an official ceremony at City Hall, said Public Safety Director Bill Bergin today.

At tomorrow's ceremony, 15 civilians will be sworn in as new patrolmen, five patrolmen will be promoted to sergeant and two sergeants will be promoted to rank of lieutenant.

Despite Hoboken's budget problems, Bergin says the city can afford to hire new cops as long as they don't exceed numbers allotted in the city's Table of Organization. Even with the 15 new hires, Bergin says the Hoboken Police Department is still short of patrolmen.

With tomorrow's promotions, there will be about 105 patrolmen and 33 sergeants in the Hoboken PD. There can be a maximum of 120 patrolmen on the force, said Bergin.

The new salaries and pay raises are already part of Hoboken's 2008 municipal budget, said Bergin.

Exactly how much do Hoboken cops make? Here's a salary breakdown:

The starting salary for a brand-new patrolman is about $34,000/year. It takes a patrolman seven years to reach the maximum police officer salary of $80,000/year, said Bergin.

The starting pay for a sergeant is $93,000/year and the starting pay for a lieutenant is $106,000/year. However, during their first year of their new position, sergeants and lieutenant will only receive $2,000 more than their old salary.

The ceremony will be Wednesday, Jan. 23 at 4 p.m. in City Council chambers of City Hall.

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