For a first offense, no, I don't think they should be punished. I think they should be educated about the purpose of calling the police, and what constitutes an emergency. Some people just don't seem to understand. If it's the case of someone who is elderly or disabled and lonely, there should be a social services referral, so a social worker or therapist can follow up with the person, and see if there are services needed. Perhaps that person can be put in touch with local resources where the person can go during the day to either be kept occupied, fed, entertained (card games with others like him/her, etc.), or, if able, do some volunteer work with/for others in need.
This could be the first intervention an overwhelmed parent needs, and if handled properly, could mitigate or prevent child abuse/neglect. If a parent is calling 911, there's a reason. If the parent is an idiot, and needs a wake up call, s/he can be fined for the first offense, but, if s/he is overwhelmed and needs a break, this could be a good opportunity for a service referral, so the home/parents can be evaluated to see if steps need to be taken to ensure the well being of those in the home.
I'm sure to many this will sound like a waste of time and resources, but many families, elderly, children, and disabled are falling through the cracks. There are quite a few stories in the news of dead bodies found after periods of time, when someone finally went to check on an elderly family member/neighbor, etc., or children who end up in the hospital or morgue, when early intervention could have made a difference, and saved their lives. I'd rather see my tax dollars pay for things like that, than be wasted on luxury travel and events, etc.