Finding a replacement for Yohan Cabaye is considered to be a must for the Magpies, with creativity in the middle of the park lacking in the wake of his January departure to Paris Saint-Germain.
Pardew will also be expected to strengthen up front, with Loic Remy's loan spell set to expire at the end of the season and long-serving Shola Ameobi ready to depart as a free agent.
There is money there to be spent, with owner Mike Ashley prepared to be back his manager in an effort to take Newcastle closer to European qualification.
Pardew told the Shields Gazette on his recruitment plans: "We know, in the summer, we have a kitty to spend.
"We're going to need to spend it well, particularly in offensive areas."
Newcastle have appointed Lee Charnley to the position of managing director to help carry the load, and he will be working closely with Pardew in the pursuit of fresh faces.
He said in a statement: "Our challenge is to make sure we spend the funds we have available in a careful and considered way in order to ensure that we get the maximum benefit from every pound we invest in the squad.
"We will continue to operate in a financially responsible manner and live within our means."