Huntsman's campaign has raised slightly more than $2.5 million to date and spent all but $78,607 of it, according to financial disclosures filed Wednesday with the state Elections Office.

The Republican's campaign bonanza includes more than $575,000 in money the candidate personally loaned or signed on a bank loan to the campaign, $260,450 in contributions from family members and $63,634 from the family's chemical company.

Matheson reports total contributions of nearly $1.2 million. He has spent nearly $980,000, leaving a bank balance of slightly more than $200,000.

The Democrat has not loaned or given any personal money to the campaign.

Neither candidate believes the better than 2-to-1 fund-raising advantage makes for as lopsided a race as it sounds.

Huntsman battled seven other candidates for the Republican nomination through a competitive state convention and primary election. Matheson won his party's nod without a challenge from any other Democrat.

"While he was sipping hot chocolate, we were fighting for our lives," said Huntsman campaign manager Jason Chaffetz.

He said the campaign has planned on raising and spending $3.5 million by the time ballots are cast on Nov. 2. Matheson indicated his targeted budget will be in the neighborhood of $2 million.

"We'll be fund-raising to Election Day. We'll never catch up in that area. We hope to catch up in the vote area," said Matheson. Huntsman's largest single contributor, aside from the candidate and his family, is Overstock.Com founder Patrick Byrne, who kicked in $75,000. Robert Lichfield, founder of a network of schools for troubled teens, contributed $60,000.

Matheson's biggest donor was the Democratic Governors Association, which contributed $105,000 in cash and policy and voter research materials. Venture capitalist Ian Cumming, his wife, Annette, and Cumming's Leucadia Corp. combined for $73,727 in donations.

Personal Choice gubernatorial candidate Ken Larsen reported just over $4,000 in contributions and expenditures of $2,114.

Attorney general race: In the race for Utah attorney general, incumbent Republican Mark Shurtleff enjoys a huge lead over Democratic challenger Greg Skordas.

Shurtleff has raised $505,000 and spent nearly $459,000.

Skordas took in contributions of nearly $175,000. He has $66,000 remaining after spending almost $108,000.

Libertarian hopeful Andrew McCullough reported a balance of $404 after raising $3,620 and spending $3,220.