Moyes' contract expires at the end of the season.
Stubbs told talkSPORT: "The decision is more off the pitch rather than on the pitch. It will be about his budget.
"He'll want assurances about what players get sold and the amount of money that he'll get to spend from those transfers.
"He wants to see the direction that the club is taking before he commits his future to it. It's a crossroads for the board as well, not just the manager."