It simultaneously is and isn't. It's overfunded on things that don't matter for the problem at hand - traffic enforcement using full fledged officers in expens

It simultaneously is and isn't. It's overfunded on things that don't matter for the problem at hand - traffic enforcement using full fledged officers in expensive vehicles, militarized SWAT teams, regulations requiring huge officer presence at all events, etc. But it's underfunded on what would change things for the better - foot patrols, investigation, etc. This is why you can get pulled over for a broken taillight in the US and have 3 police cars behind you complete with a K9 unit, but if that same car gets stolen, you'll probably get asked to make a report and never hear a peep from the police again.