Washington (CNN) – Incumbent Sen. Barbara Boxer, D-California, holds a significant cash advantage over Republican challenger Carly Fiorina, according to financial reports released Thursday by both campaigns.
Boxer raised $4.6 million during the second quarter of 2010, and has $11.3 million cash on hand, her campaign said Thursday in a statement.
Meanwhile, the Fiorina campaign said it has $950,000 cash on hand, a deficit it acknowledged.
"There's no denying that we're starting, and will probably continue to be, at a significant cash disadvantage to Boxer: we went through a tough and expensive primary and have only had a few weeks of raising cash for the general while Boxer has been stockpiling funds for 6 years," the campaign said in a release.
The financial report is the first to be filed since Fiorina emerged the winner of a contentious and expensive Republican primary that culminated on June 8.
But, in a sign Republicans are rallying behind their candidate, Fiorina raised a robust $1.4 million dollars in the last six weeks of the 2nd quarter, according to her campaign.
According to the last report filed with the Federal Election Commission, Fiorina brought in $896,833 in the first half of the 2nd quarter, which means the Republican raised a total of $2.28 million in the 2nd quarter, roughly half of Boxer's haul over the same period.
And while Boxer holds a significant cash advantage, other indicators reveal the matchup to be a much closer race.
According to a Field Poll released one week ago, 47 percent of California voters say they support Boxer, with 44 percent saying they back Fiorina, and nine percent undecided. Boxer's three point advantage is within the survey's sampling error.
And on Thursday, the non-partisan Cook Political Report, a well-respected handicapper, moved the race from the "lean Democratic" column into the "toss-up" column.
Fiorina, the ex-CEO of Hewlett Packard, had loaned her own campaign $5.5 million in advance of the primary, but her campaign noted Thursday that she has made no loans since her victory in that contest.
–CNN's Paul Steinhauser contributed to this report
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