Transfer warchest: I have no idea why they call it this. Because of the way transfer fees, wages, signing on fees and agents' fees will be taken from the same pot, it'll never be as simple as just plucking a figure of out of your arse and saying "That's what you have to spend this summer. Not a penny more or less". Like some sort of deranged version of The Price is Right.
I've always wondered what sort of budget equates to a warchest. I always think something over 50m = Warchest, but that number might have increased with the fees nowadays to somewhere in the region of 75m.
Anything below 50m and i'd say the "chairman has backed the manager and is prepared to spend..."