FRIDAY 8:04 A.M.: This morning's committee hearings are kicking off as we type. We're in Senate Hearing Room 3 where the Higher Education and Workforce Development Committee is scheduled to hear from the state's colleges and universities about how they're grappling with budget cuts.

We've got staffers in a series of other committees this morning, too. The action wraps up at noon.

So stay tuned.

8:14 UPDATE: Gavels have fallen and we're underway. But before we get too far, here are a few things making news this morning. And in Olympia, it's all about the budget.

The Seattle Times has a story about the prospect of closing prisons to help plug the state's budget hole.

Senate Majority Leader Lisa Brown put up a post on her blog last night addressing the issue of possible tax increases.

The Olympian has a story about the erosion of state pension funds.

And if you didn't check out our coverage of yesterday's newsy Ways and Means Committee meeting, you should.

8:38 UPDATE: Jim Camden at the Spokesman-Review also covered the Ways and Means meeting.

In the higher education committee staff is reporting that all four-year institutions are scheduled to enroll more students than budgeted this academic year. It's also worth noting that all school are reducing spending on administrative costs by "substantially more" than spending on student services and instruction. That's a reversal from earlier in the decade.

8:55 UPDATE: A few 9 a.m. meetings are about to begin. You can find today's schedule here.

9:06 UPDATE: Over in the Environment, Water and Energy Committee they're talking about the prospects of capturing carbon underground to curb emissions and combat climate change. The Department of Natural Resources is reporting that as various methods are being studied, it's an option that may yet be five to 10 years away from being put to use.

9:18 UPDATE: University presidents are speaking now in the higher ed committee about the budget cuts they've had to make. Western Washington University President Bruce Shepard said the school nearly cancelled it's new faculty orientation program "because there are no new faculty to orient."

Evergreen State College President Les Purce called cuts the school has had to make "absolutely not sustainable."

Washington State University President Elson Floyd said the school opted not to "pass out the pain" to all programs and instead merely eliminated programs and degrees that were not top priorities. He also expressed worry that tuition increases will price students out of getting a college degree.

University of Washington President Mark Emmert is reporting that the university already has eliminated 850 jobs, a total that will likely top 1,000 by the end of the 2009-11 budget cycle.

"There's only so many levers to pull," Emmert said.

9:32 UPDATE: They're having an interesting discussion in the Judiciary Committee about wage theft, or uncompensated work. Chairman Adam Kline, D-Seattle, says the crux of the issue comes down to whether wage theft should be combated in the legal system with criminal prosecution or administratively.

In the audience a woman is quietly translating the proceedings into Spanish for a group of workers who have come to listen.

9:43 UPDATE: There are several dozen in attendance in the Financial Institutions, Housing and Insurance Committee where members are getting a sobering look at the fiscal health of our state-chartered banks. Washington has 120 banks with total deposits of $112 billion. Eighty of those are chartered by the Department of Financial Institutions. Three banks have failed in Washington.

The commercial real estate market has been particularly damaging to the banking industry.

The state's 121 credit unions are in considerably better shape, though they're being challenged by increases in consumer demand. Some are nearing their customer limit.

9:46 UPDATE: In the energy committee it's being reported that all 39 Washington county's are now participating in the state's new E-waste program. Thirty million pounds of waste has been collected for recycling so far.

9:53 UPDATE: In the higher ed committee Denise Graham, operating budget director for the State Board for Community and Technical Colleges, says that budget cuts may ultimately reduce student retention, increase time to degree and reduce degree prodution.

"We're serving more students with less staff," she said.

10:29 UPDATE: The updates from staff are coming fast and furious and we're struggling to keep up. Before wrapping up in the Financial Institutions, Housing and Insurance Committee members were briefed on the implementation of Senate Bill 6033, a measure sponsored by committee Chairwoman Jean Berkey, D-Everett, aiming to help families avoid foreclosure.

The program it created, called PROOF, assists borrowers achieve work-outs with creditors. Professionals provide pro bono expertise. The Housing Finance Commission is in the process of putting out brochures to raise public awareness and putting together a volunteer database.

10:52 UPDATE: In the Labor, Commerce & Consumer Protection Committee members are being briefed on the Department of Labor and Industry's proposed 7.6 percent workers' compensation rate increase for 2010. That's being driven in part by medical cost inflation, wage inflation and fewer jobs for injured workers to return to.

"We are not a profit-making enterprise," the agency's Judy Shurke told the committee.

The agency's Bob Malooly explained that other states are lowering their rates because they are calculated based on wages. As wages go up, premiums go up. But Washington bases its rates on hours worked, so even when wages go up a rate increase is needed to addequately support the trust fund they system operates on.

11:24 UPDATE: With the agency taking heat over the proposal Shurke said "any changes we make need to be made thoughtfully and collaboratively."

"It is the worst time to increase costs" on businesses, said Sen. Karen Keiser, D-Kent.

12:19 UPDATE: The last committee has adjourned and the hallways have emptied out. This brings an unusually intense Fall Assembly Days 2009 to a close. Members will now trickle out to downtown restaraunts or into Capitol campus conference rooms for working lunches before launching into a full afternoon of one on one meetings with constituents and various interests.

Then they'll go back to their home districts before returning here Dec. 3 and 4 for Assembly Days once more. That will represent their last warm up before the 2010 session convenes in January.

Thanks for reading.