(CNN) - The Republican National Committee ended the election cycle with nearly $4.7 million in the bank, unlike President Barack Obama, Republican Mitt Romney and the Democratic National Committee - all in the red.
RNC chairman Reince Priebus said the committee's fundraising was "truly impressive" and that the committee raised $2.3 million in December, to close the year with the surplus - something the committee could not say after the 2010 midterm elections, under previous leadership.
Priebus recently won re-election to his post and described in a recent interview with CNN how dire the situation was when he took the reins.
"Our money situation here was so bad that both credit cards were suspended when I walked in the door," he said. "So when we went to go book travel or anything like that, we didn't have a credit card to put the travel on. Fortunately, we had my two credit cards, so we maxed out both of those cards."
The efforts of the RNC, Romney and other affiliated groups to fund the Romney Victory Fund grossed the group $632.8 million in the 2012 election cycle, Priebus said in a statement.
Both Romney and Obama ended their campaigns in debt, according to numbers from Federal Election Commission reports that closed at the end of 2012.
Obama's campaign owed nearly $5.9 million and had only $3.3 million in the bank. In the final month of the year - which for reporting purposes began November 27 - his campaign raised almost $5.8 million.
Romney owed only $825,000 and had $383,000 in the bank. He raised about $4.7 million in December.
The DNC closed its books on 2012 with nearly $21.5 million owed and only $4.3 million in cash. It raised slightly over $1 million in the final month of the year.
Numbers released earlier in the day showed the Democratic Congressional Campaign Committee and the National Republican Congressional Committee also ended the year in debt.
- CNN's Gregory Wallace and Mark Preston contributed to this report.
Yeah but they also had more loses....one in particular they thought their money could buy.
Wonderful – the GOP has cash to spend on more ads and more propaganda.
Mr. Priebus is not someone who instills trust or faith. Does the GOP really think he can draw in the new members they need to move forward. Why did they choose this man because he certainly could not lead them to a positive outcome.
debt is how obama lives and all he knows
The party of the rich,RNC,had a 30yr tax cuts advantage.
I guess the Republicans do know how to handle their money, much to the dissapiontment, I'm sure, of all the liberal posters here.
What? No big trips to Hawaii or lesbian bars? I don't know why but I don't believe anything this strange sounding named man says.
The RNC was unsuccessful, but at least they were frugal about it. It sounds like the GOP platform.