Speculation surrounded the manager's future after defeat to St Johnstone on Wednesday extended his team's run of games without a win to seven. Dundee are nine points adrift at the bottom of the table but Smith received the backing of the five-man board yesterday and was told he will be given money to strengthen his squad, this month.
The former captain said: "The board have assured me I will be the manager until the end of the season and beyond. They have assured me of that.
"It has been difficult because of the speculation but it's done now and the board are 100% behind me. That's all that matters now. It's not about me. It's about the club and turning things around.
"I have been doing my job as normal over the last few days, looking for players to bring to the club during this transfer window.
"The board have told me there will be money to spend. I don't know exactly how much but we will discuss that shortly. Hopefully, we'll be able to do some business in the next couple of weeks."
Smith also called on Dundee's supporters to stand by the team. He added: "I have always had belief we can stay up and that hasn't changed.
"We knew it was going to be a tough, tough season but with the backing of the fans and a couple of additions to the squad we'll get there.
"The fans are going to be crucial. We saw what happened during administration, what you can do when everyone sticks together and pulls in the same direction. We need the same again now. We can get out of this and away from the bottom of the league."
A statement from Scot Gardiner, Dundee's chief executive, read: "While the season has obviously not gone as well as we would have hoped and our injury list has been horrendous, there is no magic wand that can be waved to fix everything.
"As a board, we will redouble our efforts with the manager to try to add more quality to the squad. The manager, ceo and board of directors are confident we can still put on a good show in this division and that we can be in the mix to the very end."
However, there was also bad news for Smith yesterday when a scan revealed Stephen O'Donnell, Dundee's captain, had suffered a torn cruciate ligament during the match at McDiarmid Park and faces a long spell on the sidelines.