Speaking to BBC Southern Counties Radio Waddock said, "One minute it's been made public that there are funds available and then we have purse strings that are very tight.
"I've been told to work with the group of players I've got."
Waddock added, "I've no problem with that but we need to make it quite clear that, as of from today, there are no funds available to improve the squad."
"It's not for us to decide what the financial position is, we have to take into account what's going on in the world at the moment, it's difficult and that's no different for a football club.
"We don't want to go down the same route as before, the football club is the most important thing.
"If that means we can't spend any money because no money is available we're not going to jeopardise or put the club in the position it was in previously."