This is the 442nd most frequent Finnish word.
valtion
"Valtion" means "of the state" or "of the government" in English.
In this sentence, 'valtion' is used in the possessive form, referring to something that belongs to the state (the state's budget).
Valtion budjetti hyväksyttiin eilen kokouksessa.
The state's budget was approved in the meeting yesterday.
Here, 'valtion' is used adjectively to describe the organization or institution associated with the state (state-maintained).
He asuvat valtion ylläpitämässä asuntolassa.
They live in a dormitory maintained by the state.
In this usage, 'valtion' defines a semantic relationship where the entity (state) has a role or responsibility.