The Democratic Party ended November with around $550,000 while the Republican Party struggled and owed more money than it had on hand in one of its two fundraising accounts, according to federal campaign finance reports.

Both parties file monthly fundraising reports on their federal accounts with the Federal Election Commission. The Republican Party reported having about $7,100 in cash at the end of November, but they also reported owing $7,500 in debt and other obligations. Democrats reported owing about $7,600 against the $556,000 in cash at the end of the month.

The money from the federal account supports the operations of the party and the campaigns of federal candidates.

State Republican Party Chairman Jerry Labriola Jr. called the November report a “snapshot of the lowest point” in the party’s fundraising year. He said December has so far been been a strong month and he was confident the party would end the year in the black.

“Democrats have leapt to a big lead with [Democratic Gov. Dannel P. Malloy] aggressively shaking down special interest groups in and outside the state of Connecticut on behalf of the state party,” he said. “It will take a few months, but I’m confident that over time we will close that gap.”

A spokeswoman for the Democratic Party declined to comment for this story.

Malloy, who is expected to run for re-election next year, has been actively fundraising for the state Democratic Party. While contributions to the party have soared, fundraising efforts have led to some controversy recently as the party has accepted large donations from people who work for businesses connected to state government.

Earlier this month the party returned a $10,000 check after it was discovered that the donor runs the parent company of the contractor that operates the Hartford XL Center and Rentschler Field in East Hartford.

Labriola said it has been a challenging fundraising environment for Republicans. He had stopped collecting his salary earlier this month to ensure the party did not have a cash flow problem, but said he plans to resume taking his pay.

Even with the cash disparity, Labriola said he was optimistic about next year’s gubernatorial race.

“Malloy spends half his time as a spin doctor for Connecticut’s failing economy and the other half cheerleading for Obamacare. I like our chances,” he said.

The party’s state fundraising account reports aren’t expected out until Jan. 10.