At the Ibrox club's inaugural Annual General Meeting in December, Rangers chief executive Graham Wallace warned shareholders that severe cutbacks were required to avoid the prospect of serious financial problems.
"We are in the process of looking at our footballing capability," Wallace said after the AGM. "Looking at the cost base of the playing squad, it is way too high for what we have got in the current division."
McCoist will meet Wallace on Monday to discuss the board's plans.
But the 51-year-old, who won his first trophy as manager last season, admits recruitment is difficult for the third-tier club because they have no chief scout.
"Until I'm told otherwise that's not a concern. I'm looking at our squad just now and I'm the same as any other manager - I'd be looking to add bits and pieces," McCoist said.
"I haven't had the conversation yet with the chief executive so until that happens, there's no use worrying about something that might not happen - and hopefully won't.
"We have players lined up. We wouldn't be doing our job otherwise. If we get the green light to go, then we have possible targets.
"But it's been extremely difficult because it's a specialised job for a chief scout."