Washington (CNN) - The Obama re-election campaign and a separate party committee supporting its effort raised $63.6 million in May, according to financial disclosure reports filed Wednesday with the Federal Election Commission.
Romney's campaign reported in its FEC filing raising $23.4 million and having just under $17 million cash on hand.
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Earlier this month the Romney campaign said it had raised $76 million along with Romney Victory, a joint fund-raising effort with the Republican National Committee. The affiliated committee won't officially disclose its numbers until July 15th, making it impossible to fully compare the financial status of the two campaigns.
The $76 million figure marks the first time Obama's re-election effort was out-raised by the Republicans. Democrats point out May was the first full month when Romney was the presumptive nominee and therefore Republican donors were crystallizing around him.
The Romney campaign earlier said the joint GOP effort ended May with $107 million cash on hand.
When added together, the Obama campaign and its joint Victory Fund with the Democratic National Committee reported $114 million cash on hand at the end of last month. The money is divided between the re-election campaign, the Democratic National Committee and affiliated Democratic state parties.
The Democratic effort spent just over $5 million more than they took in.
May included a highly publicized fund-raiser for the president at actor George Clooney's home, an event that helped Team Obama surpass its April total.
The Obama re-election campaign reported more than 572,000 people had contributed to its various fund-raising efforts, with 98% of the donations less than $250.
Team Romney said 93% of its contributions were less than $250.
Small donors are critical to each campaign since they can make multiple donations, and are seen as representative of support from the parties' activists.