PORTLAND (AP) – Fundraising in Maine’s U.S. Senate race has set a new record.

Figures released by Republican Sen. Susan Collins on Tuesday indicate she raised more than $960,000 in the latest reporting period. Her Democratic challenger, Rep. Tom Allen, raised more than $700,000 in the same period, from Jan. 1 to March 30. Together, that brings the total raised in the race to more than $9 million.

The old state record for campaign spending was $8 million, set in 2002 when Collins won a second term by defeating Democrat Chellie Pingree.

According to reports, Collins’ campaign has $4.5 million cash on hand, while Allen’s camp has almost $2.7 million.

“I’m not surprised that they’ve broken the record. I’m surprised at how quickly it’s happened,” said Anthony Corrado, a campaign finance expert and government professor at Colby College. He said he wouldn’t be surprised to see total spending – including money injected into the campaign by outside groups – surpass $12 million.

The race is one of a handful of Senate contests expected to capture the national spotlight and is seen as an indicator of whether moderate Republicans such as Collins and fellow Maine Sen. Olympia Snowe have a future in blue-state regions like the Northeast.

Collins and Allen have spent the past year on under-the-radar activities: building their campaign structure by hiring staff, opening offices, developing strategy and focusing on fundraising.

The candidates have yet to launch their advertising campaigns, the bulk of which is likely to appear during the final three months before the election. Corrado said some ads may be aired this spring when interest in politics perks up with next month’s state party conventions and the June primaries.

AP-ES-04-15-08 1407EDT