DES MOINES - Gov. Terry Branstad has amassed more than $4 million for a likely re-election bid, his campaign announced Monday.
"We set an ambitious goal of having $4 million cash-on-hand at the end of 2013, and we're pleased to have exceeded it by over $100,000," Branstad said in a news release.
The 67-year-old governor hasn't officially announced his plans but is expected to run for an unprecedented non-consecutive sixth term this year. The release notes that Branstad's cash-on-hand number sets a record for a gubernatorial candidate at the end of a reporting period.
The campaign declined to provide the full report until the official filing deadline later this month. They said 94 percent of the donations came from Iowa.
But the governor did receive significant funds from outside the state. According to documents filed with the Iowa Ethics and Campaign Disclosure Board, Branstad received over $1 million from a political action committee affiliated with the Republican Governors Association.
The leading Democrat in the race, state Sen. Jack Hatch, of Des Moines, has not yet announced his fundraising numbers for 2013.
Hatch, 63, said Monday that his fundraising was going well, but that he would wait until the Jan 19 reporting deadline to provide full details. The Des Moines Register reported last month that Hatch was putting $200,000 of his own money into his campaign. Hatch declined to confirm that figure Monday, saying the full report would be out soon.
If he runs, Branstad is expected to be tough to beat. The governor has strong approval ratings and is touting property tax cuts, education investments and a decline in unemployment as key accomplishments.
Hatch has said he will present himself as a progressive option for Iowans, with a focus on issues such as college affordability and health care access.
Associated Press reporter Thomas Beaumont contributed to this report.