INNOVATIVE TOOLS OF TREASURY SERVICE OF LOCAL FINANCES

Authors

  • Vasul Demianyshyn dr.sc.(econ.), professor, professor at the department of fundamental and special disciplines, Chortkiv Education and Research Institute of Entrepreneurship and Business of West Ukrainian National University
  • Olha Shmyhel cand.sc.(econ.), assoc. prof., associate professor at the department of fundamental and special disciplines, Chortkiv Education and Research Institute of Entrepreneurship and Business of West Ukrainian National University

Keywords:

budget system, local finances, treasury system, automated system, digital technologies, remote service, territorial communities, artificial intelligence, blockchain.

Abstract

Demianyshyn V.H., Shmyhel O.Ye. INNOVATIVE TOOLS OF TREASURY SERVICE OF LOCAL FINANCES

Purpose. The aim of the article is to study the application of innovative treasury services tools for local finances in the context of evolutionary trends in digitalization, increasing the efficiency of financial management, and enhancing the transparency of budget processes.

Methodology of research. The theoretical and methodological basis of the article is the fundamental provisions of modern economic science, as well as the scientific works of scientists and practitioners. A complex of general scientific and special methods was used in the research process. General scientific methods include system and functional analysis, which allow for a comprehensive assessment of financial management features. The following special methods were used in the article, namely: induction and deduction – at the stage of collecting and analyzing primary data; comparative method – to assess the dynamics of the use of remote services; abstract and logical method – in the process of formulating conclusions; descriptive analytical method – for a comprehensive analysis of the processes under study; graphical method – to visualize the number of administrators/recipients of budget funds working in the remote services system.

Findings. A review of literary sources was carried out to consider the evolution of innovative instruments of treasury service of local finances. The role of automation and digitalization tools in the development of the treasury system of Ukraine was highlighted. An analysis of the dynamics of the number of administrators/recipients of budget funds working in the remote service system was conducted. The main problems of using innovative tools of treasury service of local finances in the conditions of martial law were identified.

Originality. Prospects for further development of innovative treasury services instruments for local finances of Ukraine under martial law were proposed.

Practical value. The obtained results of the research will contribute to the improvement of the effectiveness of the functioning of the treasury service of local finances with innovative tools in the conditions of martial law.

Key words: budget system, local finances, treasury system, automated system, digital technologies, remote service, territorial communities, artificial intelligence, blockchain.

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Issue

No. 4 (2024): INNOVATIVE ECONOMY

Section

Financial–сredit and monetary policy

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How to Cite

“INNOVATIVE TOOLS OF TREASURY SERVICE OF LOCAL FINANCES”. INNOVATIVE ECONOMY, no. 4, Mar. 2025, pp. 181-90, https://inneco.org/index.php/innecoen/article/view/1404.