Proceedings of the International scientific and practical conference ―Israel Ukraine Forum of Science and Innovation‖ (April 27-29, 2026) / Publisher website: www.naukainfo.com. – Tel Aviv, Israel, 2026. - 262 p.

8 and budgetary systems of Western European countries and help them better perform the functions of the state are a determining factor in public finance as a special type of modern, financial, social relations. It is emphasized that transparency in the public administration system means that those institutions that ensure the performance of state functions must report to society in a timely manner for the effectiveness of management and use of public finances. Keywords: finance; state finances; budget; society; income; expenditure; local finances; public finances; functions of the state Dynamic, systemic transformations in society are reflected in the development of socio-economic relations, the improvement of terminology. Financial science does not stand aside, which is constantly updated, enriched with new terms regarding the conceptual apparatus, which makes it possible to systematize, deeply and comprehensively investigate complex financial and economic phenomena, apply in modern conditions new approaches and methods of managing economic processes to ensure GDP growth, increase the level of welfare of citizens, and promote the efficiency of the state. The term "finance" originated in the Middle Ages as a forced payment and was used to indicate the payment term, as well as to define documents on the completion of a transaction, repayment of a debt. For the most part, this term comes from the Latin "finis", that is, the completion of something. Later, this term was improved, modified, and acquired a new meaning depending on the conditions of the state system of the country. With the development of market, commodity and monetary relations, the role of the state in its influence on the economy increased. Therefore, finance, as an economic category, acquired more advanced forms due to its importance in expanded reproduction, distribution processes, and providing sectors of the economy and administrative-territorial communities with the appropriate amount of financial resources to solve diverse socio-economic problems.