IIRC, "defund the police" grew out of frustration with various police reform efforts that failed to address these problems [1]. It wouldn't make a lot of sense to take up the slogan of one of the things you're opposing.
[1] For instance I watch a video of some police deescalation training (in Seattle, IIRC), where the rank-and-file were talking back and not taking it seriously, and the instructors were not very enthusiastic or in control. I can't imagine that reform effort did a lot of good.
It's not accurate, unfortunately. Reform is as ambiguous as defund. Do you mean totally eradicate and then reform a department? Or do you mean just telling them "do better"? Are you talking about re-forming the police or reforms for police?