Woodward says there is plenty of cash available to Van Gaal if he decides he needs to strengthen further.
"There is no fixed budget. Financially we are extremely strong, we have funds available," United's executive vice-chairman told MUTV in an interview filmed on the club's pre-season tour of the United States.
"Louis is the boss and is assessing what's going on but we have been in dialogue for some time about targets so there is a lot of work going on behind the scenes... we're continuing to move forward on some of those targets... so watch this space.
"The time he (Van Gaal) spends here as well (in America) he'll be able to assess more what he's got and continue to tweak the decisions if we need to.
"We want to do what it takes to win the title."
United finished seventh under David Moyes last year, meaning they will be without European football this term for the first time in almost two decades.
Woodward does not believe that will put potential signings off a move to Old Trafford though.
He added: "I've experienced a lot of conversations with agents and players and we are still a huge attraction to top football stars around the world - there is no doubt about that.
"We've already invested in two new fantastic players."
- Sports & Recreation
- Kevin Strootman
- Thomas Vermaelen
- Arturo Vidal
- Ander Herrera
- Louis van Gaal