The COVID-19 pandemic has ushered in an unprecedented level of uncertainty in all aspects of life as most states and communities operate under stay-at-home directives. There is little doubt that these directives will have economic implications that will affect school budgets for years to come. Identifying and understanding these effects and possible ways to mitigate their impact is important as schools look ahead to the budget for next year and the years that follow. This brief provides an initial assessment of what we have learned from previous economic downturns, different ways that states and charter schools may be affected, and some things that charter school leaders can do now to prepare for the impending fiscal downturn.