Kenny Jackett has revealed he does have the option to spend big to complete his summer business.
The Pompey boss is confident he will be backed by the club's owners if he chooses to push the boat out for a new arrival.
Jackett has this week been linked with a move for in-demand striker Mo Eisa, who is valued a £1.5m by Cheltenham.
Pompey would certainly have to break the £1m barrier to bring in the 24-year-old, with Peterborough having a bid for that amount rejected.
Such a deal would be the first time in seven years the club have paid a seven-figure fee for a player, with Erik Huseklepp signing for £1.5m in 2011.
Pompey have banked £550,000 in a sell-on fee from Adam Webster joining Bristol City from Ipswich.
Plus there is a likely fee to be received in the event of striker Conor Chaplin moving on.
Jackett will have no hesitation in splashing out a considerable amount if he finds a player he feels can significantly boost Pompey's promotion bid.
He said: 'Yes there is (money available for fees). I can play with that.
'There is a budget here, but, similarly, if I feel there's someone who can really make a difference I will ask the question.
'Also you have to assess whether it's worth it rather than pushing for the sake of it.
'It has to be something which is considerably better, whether that's a complement or filling a hole that appears through injury or whatever.
'As a manager you have to be as strong as possible but also ask at the right time.
'I can ask the question where the two marry (budget and squad strengthening). It doesn't do any harm.
'If I can get as strong a squad as possible this year that would be great.
'There is not an exact correlation
'The people I work for are open-minded.
'If I feel we need strengthening, within the parameters, they will help to get us as strong as we can.'
Jackett has also revealed he is looking at adding three more players to get the options he wants from his squad.
Two attacking players would be among those additions, with a striker and attacking midfielder fitting the bill.
Then there is Spurs defender Anton Walkes, who Pompey remain keen on recruiting.
Jackett added: 'Three more (signings) possibly. We're on 20.
'I wouldn't take the last person just for the sake of it.
'We're aiming towards that and estimating those numbers is an accurate assessment of where I am.
'We always work to 23 or 24.
'Can we get to 24 with two for every position plus an extra keeper and forward. That's your ideal. That's the aim.'