The purpose of this article is to present the findings of a study on the conditions and trends in the development of the park industry and to identify the key directions for enhancing the efficiency of parks as a factor in the sustainable development of regions. To achieve this goal, several tasks were carried out during the study, including: identifying the essence, role, and functions of parks as budgetary institutions; determining the characteristics of the operation and financing of budgetary institutions; summarizing the concept of efficiency as an economic category and identifying the specific features of efficiency in budgetary institutions and the use of budgetary funds; characterizing parks as recreational and leisure budgetary institutions, with a focus on the Nature Conservation Recreational Institution of the Park-Monument of Garden and Park Art of National Importance, "Stryiskyi Park"; exploring the potential for integrating foreign experiences into the activities of the studied institution to improve the organization of work, diversify services, and introduce innovative recreational technologies with appropriate technical support to enhance the implementation of their designated functions and increase the efficiency of budget fund utilization. The methodology employed in this research is grounded in a general scientific dialectical approach, combining historical and logical methods for the study of economic phenomena, and incorporating induction and deduction, analysis and synthesis, as well as scientific abstraction. A methodological framework for assessing the efficiency of budget fund usage at the Nature Conservation Recreational Institution, "Stryiskyi Park," was proposed and applied based on the degree to which it fulfills its main functions. This assessment was informed by feedback from direct consumers of the institution's services and analyzed using relevant financial indicators over time. To implement this efficiency assessment approach, visitor surveys were conducted as part of the study. Additionally, the findings of surveys performed by other researchers were analyzed. The information base for the study included relevant publications from both domestic and international scholars and practitioners in the field of management, data from statistical sources, legislative materials available during wartime, and financial reports from the institution under investigation. The key outcomes of the research included an overview of the evolution of parks from their inception to the present day, the identification of existing challenges in their development, and the suggestion of effective strategies for diversifying park services to improve the efficient use of budget funds.