President Obama’s reelection team is going into the final weeks of the campaign with a healthy fundraising advantage over Republican challenger Mitt Romney.

Financial reports filed with the Federal Election Commission (FEC) on Saturday show Obama raised more than $48 million more than Romney in September, taking in $126.1 million last month.

Even though the president's campaign spent $115.6 million in September -- more than twice as much as his challenger – he still had almost $100 million in reserves. Romney had $63.1 million left in his coffers.

September marked the best fundraising month for Obama since the campaign began, while Romney fared better in August when he brought in $86.6 million – almost $10 million more than his September total.

Obama took in $33.1 million from donors who gave less than $200, while Romney’s small donors gave a combined $12.4 million.

Restore Our Future, the super-PAC created to support Romney, reported in an FEC filing on Saturday that it raised $14.8 million in September, approximately twice as much as its August total. Expenses dropped to $4.6 million last month, allowing the group to refill its coffers just weeks before Election Day.

--This report will be updated.