The Baggies have established themselves in the top flight, currently competing in their seventh successive Premier League campaign, and Clarke has revealed that he is targeting a "marquee signing" to further improve his team.
The 49-year-old told the Birmingham Mail: "I don't set the budgets. The chairman and Richard Garlick, the technical director - they decide on the budget. I have a list of players myself and the scouting staff have watched over the course of the season.
"We will try to sift through them to get the best three, four or five players to complement what we have already got to make us stronger next season.
"I would like to think we could get one marquee signing - I would like to think we can get one every summer."
West Brom currently sit in eighth place in the Premier League table.