Watch CBSN Live

Jon Huntsman campaign nearly broke

Jon Huntsman
AMES, IA - AUGUST 11: Republican presidential candidate former Utah Gov. Jon Huntsman speaks during the Iowa GOP/Fox News Debate on August 11, 2011 at the CY Stephens Auditorium in Ames, Iowa. This is the first Republican presidential debate in the state ahead of Saturday's all important Iowa Straw Poll. Charlie Neibergall-Pool/Getty Images

Former Utah governor Jon Huntsman's presidential campaign is nearly broke - but the campaign is vowing that it will have the resources to continue until the primaries.

The campaign said Friday it has just $327,000 on hand and $890,000 in debt. It listed its total receipts - including a $2.25 million donation from Huntsman himself - at $4.51 million, and its total dispersments at $4.18 million.

Huntsman campaign manager Tim Miller said Huntsman will have the money he needs to stay in the race until the New Hampshire primary, which will likely take place in early January.

"Governor Huntsman has the best record and boldest vision for leading this country and our campaign will have the resources necessary to ensure he will win New Hampshire and go on to the nomination," said Miller.

The Huntsman campaign revealed the information as part of its third quarter fundraising report with the Federal Election Commission. The campaign has slashed spending and cut staff since the candidate entered the race in June, and it says its fundraising has improved in recent weeks.

"Our campaign has reorganized to become more nimble with a focus on success in New Hampshire and our fundraising this first two weeks of this quarter has reflected that," Miller said.

Huntsman has struggled to gain traction in the Republican contest but has started to make some gains in the Granite State, though a Magellan Strategies survey out Friday still had him in the single digits there.

The former governor could get a boost from "Our Destiny PAC," the pro-Huntsman PAC founded by a Huntsman Corporation executive that is poised to potentially run advertising on his behalf. The PAC can raise unlimited funds to support Huntsman's campaign, and could attract millions from Huntsman's wealthy father and other allies.