If the budget is not approved by the first day of the next year, the previous budget is extended until a new one is approved.
ɪf ðə bˈʌdʒɪt ɪz nˌɑːt ɐpɹˈuːvd baɪ ðə fˈɜːst dˈeɪ ʌvðə nˈɛkst jˈɪɹ, ðə pɹˈiːviəs bˈʌdʒɪt ɪz ɛkstˈɛndᵻd ʌntˈɪl ɐ nˈuː wˈʌn ɪz ɐpɹˈuːvd.