Republicans are well-positioned for this fall's elections due to record-breaking fundraising in 2009, Republican National Committee (RNC) Chairman Michael Steele boasted to party members.

In a memo Wednesday to RNC members, Steele touted numbers showing the RNC outraised the Democratic National Committee (RNC) seven months last year, leaving the GOP committee with $8.4 million in cash on hand, and with no debt.

"It is clear that the Republican National Committee stands on solid ground and is poised for great success due to the tremendous support and leadership each and every one of the RNC members provides on a daily basis," Steele wrote. 

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"Our financial situation now places the RNC, state parties and our candidates in a great position to continue this unprecedented success in the coming elections this fall," the Republican chairman added.

The memo comes as a bid to reassure party members of the RNC"s financial footing going into an election year. While the party raised $81 million last year, it ends the year with far less than the $22.8 million in cash on hand they had at the beginning of 2009. (Much of the RNC's spending was on a series of special elections for the House and Senate, as well as several gubernatorial elections.)

Steele made the case to RNC members that his efforts over the past year led to the GOP exceeding its fundraising goals and find new contributors, which Steele said had broken records. The results, the RNC leader said, showed an enthusiasm gap between Republicans and Democrats.

"Due to these efforts, we added over 370,000 new first-time donors in 2009, an off-year record…Those are small dollar donors that President Obama supposedly got 'fired up, ready to go,'" Steele wrote. "It seems that President Obama’s and Congressional Democrats’ binge spending agenda has caused a large number of their supporters to hold on to their hard earned money, and I don’t blame them."