Campaign funds raised by Montgomery County Council member Esther P. Gelman were incorrectly reported yesterday. Gelman reported to the Federal Election Commission raising $78,776 for her bid to succeed Rep. Michael D. Barnes (D-Md.). In addition, Gelman transferred $13,000 that she had collected when she originally planned to run for reelection, bringing her total funds to $91,776.

Rep. Barbara A. Mikulski, who has a commanding lead in statewide polls in her bid to become Maryland's next U.S. senator, has far surpassed her opponents in raising money in the first three months of the year, according to campaign finance reports filed yesterday with the Federal Election Commission.

Mikulski, a Baltimore Democrat, led the pack of four Democrats and two Republicans by raising $300,586 from Jan. 1 to March 31 -- a third more than her nearest rival. Overall, her total campaign fund-raising effort is about even with that of Rep. Michael D. Barnes, a Montgomery County Democrat, who was more successful at raising funds last year.

"A year ago, opponents said she couldn't win votes, but the polls showed she could . . . . Last fall, opponents said she couldn't raise the money, but this quarter showed she could raise the money," said an exultant Wendy Sherman, Mikulski's campaign manager.

In the most hotly contested race in Virginia, for the 10th Congressional District seat, challenger John G. Milliken, a Democratic member of the Arlington County Board, raised more money during the latest quarterly reporting period than GOP incumbent Frank Wolf. Milliken, who announced his candidacy Feb. 15, raised $112,722, compared with Wolf's $93,058. Wolf still had more cash on hand for his campaign because of funds raised last year.

In the crowded race to replace Barnes in Maryland's Montgomery County-based 8th Congressional District, state Sen. Stewart Bainum Jr. continued to outdistance his six opponents in fund raising, collecting $149,708 in the three-month period ending March 31.

Mikulski's dominance in recent fund raising appears to solidify her position as the front-runner in the crowded race to replace retiring Republican Sen. Charles McC. Mathias Jr., whom Mikulski unsuccessfully challenged in 1974 when she was a member of the Baltimore City Council.

Barnes, with $176,212, was second among the Democrats in fund raising during the most recent quarter, which he ended with slightly more cash on hand than Mikulski. He reported $303,710 in cash, compared with $286,147 for Mikulski.

Gov. Harry Hughes, who formally entered the race only two days ago but has been raising funds for months, collected $132,000, the least of the four Democrats.

Baltimore County Executive Donald P. Hutchinson, struggling to remain a factor in the race after dismal showings in several polls, remained competitive in raising funds with receipts of $156,380. With several hundred thousand dollars available for his Senate race from a political treasury he established when he became county executive, he has consistently had the most cash on hand of all the candidates and wound up this reporting period with $375,100.

Starting today, he will dip into his campaign fund for the first time with a series of commercials designed to increase his name recognition.

The five-minute commercials will air on Baltimore television stations for one week, and will be followed by one-minute and 30-second spots for several weeks afterward.

Of the two Republicans in the Senate race, Baltimore businessman Richard P. Sullivan raised $191,746, almost twice as much as the $108,822 collected by former White House aide Linda Chavez. However, Sullivan contributed $100,000 of his own money to his campaign. The remainder came mainly from $1,000 contributions from business executives, while Chavez, who also collected from business leaders, received four times as much from political action committees.

Several other candidates, including Debra Freeman, a supporter of extremist Lyndon LaRouche, and Bob Kaufman, a member of the Socialist Party, are also vying for the Senate seat. They could not be reached yesterday for details about their campaign finances. All of the financial reports for this quarter had to be postmarked by midnight last night and filed with the FEC.

In Montgomery County, the closest rival to the leading fund-raiser, Bainum, was Montgomery County Council member Esther P. Gelman. The last to enter the congressional race formally, Gelman reported raising $78,776, including $13,000 that she originally collected when she planned to run for reelection to the council.

But Bainum, with a total of $202,046, has received more than twice as much as the candidate with the next highest receipts, Republican Del. Constance Morella.

In the already hard-fought race to replace Republican Rep. Marjorie Holt in the Anne Arundel-based 4th Congressional District, Republican Del. Robert Neall slightly narrowed the fund-raising gap between himself and his chief Democratic rival, Washington Bullets basketball player Tom McMillen.

McMillen, who collected more money than any other candidate for federal office in Maryland in the previous reporting period, raised $69,018, compared with Neall's $47,077 in the most recent quarter. As he had done earlier, McMillan received the backing of a number of celebrities, including a group who attended a Beverly Hills reception given by entertainment executive Lew Wasserman. But McMillen, who already has spent about $31,000 on direct-mail and media efforts, ended the period with only about $4,000 more cash on hand than Neall.