Lincoln chairman Bob Dorrian says the Blue Square Bet Premier club's new manager will be offered only a contract until the end of the season.
The Imps are seeking a successor to Steve Tilson, who was sacked on Monday.
Dorrian told BBC Lincolnshire: "We won't be offering a contract past the end of this season and there's not a lot of money on offer either.
"We need someone who's prepared to come in, work hard and make a name for themselves on a small amount of money."
But he added: "If they're successful we will look at things and perhaps give them a contract going forward to next season."
Dorrian conceded that the club's financial constraints meant it was unlikely that a manager currently at another club would be given the job.
"We only want someone until the end of the season and the pay isn't very good so people aren't going to leave other clubs to come to Lincoln, especially as they're probably on more money already," he said.
"We need someone who's out in the cold at the moment, has good ability, is fairly local and who can come in and make his reputation once more."