Chief executive Keith Wyness says Aston Villa remain confident of making three or four signings this summer with the budget the Championship club has set.
One newspaper report claimed Villa had earmarked just £1m for new players, after heavy spending failed to earn them promotion to the Premier League.
Wyness insisted manager Steve Bruce understood the club's position.
"There are about three or four targets and we can easily achieve that with the budgets we have," he told BBC WM.
Villa spent £39m alone on strikers Jonathan Kodjia, Ross McCormack and Scott Hogan following their relegation from the top flight in 2015-16.