It's not necessary to eliminate racism. Imagine if the citizens of a community had the power to pull some of their money away from ineffective police departments to hold them accountable. There could be competing police forces, all run by the government, and the citizens could fund the ones they prefer, not unlike charter schools allow parents to fund the schools they prefer, and food stamps allow the poor to buy the food they want from the grocery store they prefer.
If your police department sucks, but the one neighboring one is good, you could choose to move your funding to the other police department who would expand their operations to cover more territory.