Risks of the budgetary process: from improvement of the conceptual apparatus to the minimization methodology

The article provides a brief overview of domestic studies on the mitigation of operational risks of budget processes and finds that their methodological approaches to risks identification and systematiza-tion lack necessary sophistication. We suggest redefining operational risks of budget processes to include the coordinating role of budgetary institutions in the organization of budget processes. We provide examples of the implementation of the institutional approach to budget risks mitigation typical for developed parliamentary countries. We conclude that the preferred option is the operational approach to improving the quality of budgetary legal relations between public law entities of the Russian Federation as most easily formalized and quantified as well as best matching the modern Russian management system.