[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/17/art.obama2.afp.gi.jpg
caption="Barack Obama's campaign says it raised more than twice as much as John McCain last month."]
WASHINGTON (CNN) - Barack Obama's campaign raised $52 million last month, more than twice the amount of funds brought in by his rival, John McCain, according to campaign officials for the presumed Democratic presidential nominee.
Obama's campaign now has $72 million cash on hand, the term used to describe how much money they currently have to spend, campaign officials said Thursday.
The average donation to Obama in June was $68, the officials said, bringing the monthly total to more than twice the $22 million raised in May. Meanwhile, the Democratic National Committee reports it raised over $22 million in June - bringing the total cash-on-hand held by Obama and the DNC to $92 million.
At that time, the Illinois senator was still locked in a fierce primary battle with Sen. Hillary Clinton for the Democratic presidential nomination, and Obama was spending more time campaigning for votes and delegates than simply fundraising.
With the conclusion of the primaries in early June and Clinton's suspension of her campaign just days later, Obama's campaign cash numbers had been expected to rise in June.
McCain's campaign raised $22 million in June, its best month yet. The campaign said that combined with the Republican National Committee, they have about $95 million cash on hand.
Earlier: McCain camp says GOP has $95 million
In a fundraising e-mail to supporters, Obama Campaign Manager David Plouffe acknowledged the deficit, saying that “McCain and the RNC together still have a huge cash advantage, and we need your help to close the gap.”
Obama has opted out of using public financing for his campaign, but McCain is accepting federal funds. That means at the conclusion of the political conventions in September, McCain will get about $85 million in public funds to spend on his campaign until Election Day, November 4th.
Obama will receive no federal money, but is free to raise and spend as much money as he can. If he continues to raise large amounts of money, he could have an advantage over McCain when it comes to campaign cash in the crucial months of September and October.
Money of course is not the only factor in the campaign, but it does pay for advertisements on television, radio, the Internet and in print, as well as fund expensive get-out-the-vote efforts in crucial battleground states across the country.