New York City Mayor Rudolph W. Giuliani's (R) undeclared Senate campaign raised $4 million more than that of Hillary Rodham Clinton (D) last year, collecting a record pre-election year total of close to $12 million for a contest expected to be the year's costliest.

The first lady's campaign said late yesterday that she had collected about $8 million since last July, when she began her unprecedented Senate bid with her husband still in the White House. Giuliani had a fund-raising head start over Clinton, raising $2.1 million by June 30. He still outdid her in the six months after she started running.

The year-end figures released yesterday also showed that the mayor has significantly more left in the bank than Clinton, with about $8 million cash, compared with $4.5 million to $5 million for Clinton.

Still, Giuliani campaign manager Bruce J. Teitelbaum said in an interview that he expects to be outmatched by Clinton. "The Clinton campaign has boasted that they will raise $25 million or more, and we have no doubt they're going to raise more than us because of the incredible fund-raising apparatus available to them nationwide," he said.

Clinton's campaign manager played down the mayor's higher totals. "By any measure, both campaigns have hit a record for an off year," Bill de Blasio said. He attributed the first lady's higher rate of spending to the fact that Giuliani has been relying on his mayoral staff and a bare-bones campaign operation, saying, "We have an operation that pays for itself. We do not have a City Hall to work the campaign out of."