Financial Management in the Context of Educational Reform

In the article, the peculiarities of functioning of educational institutions of different levels are examined. The influence of factors on the reform of the education system is substantiated. The importance of adapting the sphere of financial management to the modern needs of a market economy is proven. The European experience of financial management in educational institutions is studied, which proves the influence of the state-building system on the evolutionary development of the sphere of knowledge. The main models of financing the sphere of education are analyzed, which made it possible to identify both positive and contradictory aspects of each system. An analysis of education expenditures based on GDP and the share of expenditures in GDP in the global dimension, including in Ukraine, as well as an analysis of the structure and dynamics of sources of education financing in Ukraine were conducted. The main directions of improving financial management in the sphere of education were identified, which will contribute to the adaptation and flexibility of institutions in a turbulent environment and changing labor market conditions.