The two Democrats seeking to take on Rep. Michele Bachmann (R) started the year with nearly identical financial resources.

State Sen. Tarryl Clark (D) announced Tuesday that her campaign raised $294,000 in the fourth quarter, giving her $389,000 in cash on hand at the end of the year. All told, Clark has raised more than $600,000 since kicking off her campaign over the summer, according to the release.

Physician Maureen Reed, who has pledged to run against Clark — the party establishment favorite — in the primary, disclosed last week that she had $388,000 in the bank at the close of 2009, after raising $208,000 in the fourth quarter.

Clark is likely to win the state party’s endorsement, but Reed has surprised observers with her strong fundraising showing despite her limited public profile.

Bachmann has yet to release her fourth-quarter funding totals. She raised a total of $992,000 through the third quarter and had $617,000 in the bank at the end of September.