Faus and Lionel Messi clashed late last year, with the Argentina forward saying the vice president knew "nothing about football" following comments about the player not needing a new deal.
However, the pair have now smoothed over their differences and Faus again sounded a different tune, stating that the Argentine will receive a new deal and pay rise that will reflect his importance to the Blaugrana.
"In the coming days or months we will arrange a new deal with Lionel Messi," he said.
"He is the best player in the world and so he deserves to be treated that way and paid best."
Last month Sandro Rosell stood down as Barca president over a lack of clarity over Neymar's transfer deal last year. His successor Josep Bartomeu said the fee was €86.2 million (£71m), rather than the €57.1m (£47m) previously stated, after including other payments to the player and his family.
While Barca continue to pay off their debt which now stands at €330m (£273m) and plan a Nou Camp revamp, Faus said they remain competitive in the transfer market and with player salaries despite being up against clubs owned by wealthy foreign investors.
"We are one of the last clubs owned by the fans and there are no millionaires, sheikhs or American tycoons behind us. It is difficult and challenging but we are trying to maintain it," he said.
"We have been on the same line for the past four or so years where we have €50m or €60m (£41m or £49m) to spend each season on transfers and we don't want to go beyond that.
"The challenge with sponsorship and marketing is not to lose your identity. It is one of our main concerns but at the same time we need to pay top players what they deserve."