The Minnesota Democratic-Farmer-Labor Party raised nearly $3.2 million last year, party officials said on Wednesday.
"This is one of the best fundraising hauls that the DFL has had in an off year," said party chair Ken Martin.
The party closed out the year with more than $288,000 cash on hand and about $87,000 in debt. Martin said none of the debt is "aged debt," meaning it has not been long unpaid and is part of the regular cycle of party business.
The figures included both state and federal fundraising.
While Martin said the cash bodes well for the party in an election year, he said the party will not rely on fundraising alone to win in November. He said he does not adhere to the belief that whoever raises the most wins.
Last week, Minnesota Republican Party officials reported the GOP had raised $2.5 million last year and had $1.2 million in debt. Republicans raised $1.4 million through its federal committee.
The DFL raised $1.2 million through its federal committee and $2 million through its state committee.
There are different rules on how state and federal funds can be raised and used.