Washington ? Rudy Giuliani used up half as much money as Mitt Romney in the Republican presidential contest so far this year, a difference in spending that left both candidates with nearly equal amounts of cash in the bank.

Romney outraised Giuliani, collecting contributions totaling $20.7 for the primary contest to Giuliani’s $13.6 million.

But Giuliani spent nearly $5.7 million on his presidential campaign during the first three months of the year, a display of frugality that left him with a healthy amount of cash on hand.

Romney reported spending nearly $11.6 million.

As the campaigns move forward, Giuliani enters the important second quarter of the year with $10.8 million cash on hand and Romney with nearly $11.9 million.

Sen. John McCain, once perceived as a front-runner but who now trails Giuliani in public opinion polls, has reported raising $12.5 million during the first three months. McCain is expected to show a high spending rate and a significantly smaller amount in the bank than Romney or Giuliani.

Giuliani, the former New York city mayor, was the first to file an official first quarter finance report. Romney also filed Friday. The deadline for the documents to be submitted to the Federal Election Commission is midnight Sunday.

The numbers reveal a Republican field in complete flux. McCain has revamped his fundraising operation to boost his totals. And while Romney received significant attention last week for reporting contributions well ahead of his rivals, he remains in third or fourth place in national polls. Meanwhile, Giuliani’s thrifty spending allows him to reassure donors and burnish his image as a fiscal conservative.

Romney, the former governor of Massachusetts, also reported giving himself a $2.35 million loan. His top donor state was California, followed by Utah, where there is a concentration of donors who, like Romney, are Mormons.

Romney aides said he had 32,074 donors. About six out of 10 Romney donors gave contributions of less than $200. The maximum contribution from individuals is $2,300 for the primary.

Giuliani aides said he had 28,000 individual contributors during the first three months of the year despite leading the GOP presidential field in polls. Aides said the campaign received contributions from donors in all 50 states. Among the contributors were actors Adam Sandler and Kelsey Grammer.

The number of donors is significant because it offers a glimpse of the breadth of a candidate’s support. Democratic Sen. Barack Obama, for example, has reported more than 100,000 donors. Romney aides have said the former governor had 33,000 donors for his $21 million raised.

“Our biggest challenge is catching our organization up to the popularity of Rudy,” said Roy Bailey, the Giuliani campaign’s national finance chairman.

Besides spending less than $5.7 million to build an organization in the expensive New York market, Giuliani also reported less than $89,000 in debts. Aides said the report illustrated Giuliani’s tightfisted management.

“That indicates the efficient nature of the campaign,” said Patrick Oxford, the campaign’s national chairman. “Rudy is all over us on this just like he was when he was mayor.”

His contributions, from individuals and political committees, totaled $14.77 million. Of that $13.6 million is for the primary. He also transferred $1.85 million to his campaign from his Senate exploratory committee.