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Senator Dahl stated that the bank will be required to peny back the State; if the bank goes out of business, the State's deposits iD that bank would be protected by the Federal Deposit Insurance Corporation. Senator Dahl stated that he would not author a program unless it did provide real assistance to the farmers without putting the State at risk. Councilmember Reimann inquired if State representatives give any thought to making budget cuts across the board. Senator Dahl replied that for the past three years he has served on the oon~nittee that hanmmers out the final budget. ~he budget process is that the various State agencies make budget requests, the Governor reviews those requests and makes recommendations, the budget committee reviews the Governor's recommendations and makes further adjustments. In the past 3 years, the budget oommittee has cut $100,000,000 out of the Governor's r~dation, a recommendation which was substantially below the request of State agencies to begin with. Senator Dahl stated that he is very oonservative and approaches this task as if he were spending his own money; he is absolutely against a tax increase to offset the deficit. Councilmember Reimann stated that he feels cuts could be made to education aids while still retaining the same quality of education. Councilmember Reimann stated that spending at the University of Minnesota really needs to be investigated; people choosing to go on to oollege and vocational schools should pay the cost of doing so. Senator Da_hi stated that with respect to grades K through 12, Minnesota has a systeu whereby local school boards make their own funding decisions. 2he State does feel that it is unfair to have the quality of education depend on the property tax base of a particular area; every child should have the opportunity to reach his or her fullest potential and for that reason most of the funding for education oomes fro~u the State goverr~ent. Senator Dab/ stated that his responsibility is to provide adequate funds for education and let the people at the local levels make a decision as to how they spend .that money. With respect to earlier con~uents regarding the University of Minnesota, Senator Dahl stated that he is convinced that one of the reasons the economy in the metro area is so strong even though the rest of the State's economy is bad is because of the University. Senator Dahl stated that the U of M is one of the finest institutions in the State but he does agree that there is some waste there and when he brings it to the ad{uinistration's attention, they are usually very responsive. Senator Dahl stated that Minnesota's long term economic health is directly tied to the quality of education. Councilmemf~r Reimann stated that we owe our children an education through grade 12 but he doesn't believe in subsidizing everybody that goes to college. Senator Pahl stated that he feels subsidizing education is a good investment because it affords the ability to persons to learn a skill and avoid relying on welfare to survive. Councilmember Reimann stated that some of the costs of subsidizing education are being duplicated at oommunity oollege spin-offs from the universities. January 28, 1986 Page6 of 18