* $185.9 million cash on hand

* Romney has been outpacing Obama in fund-raising

* Democrats worry about being outspent

By Steve Holland

WASHINGTON, Aug 5 (Reuters) - Republican presidential candidate Mitt Romney and the Republican National Committee raised $101.3 million in July, turning in another big month of financial strength for their battle to defeat President Barack Obama on Nov. 6.

In addition to the July numbers, the Romney campaign also planned to announce on Monday that Romney, the Republican National Committee and state party participants have $185.9 million cash on hand.

Romney has been outpacing the Democratic incumbent in fund-raising, and his July total of $101.3 million is another sign that Romney and his allies are on course to wash away any cash advantage that Obama, as an incumbent president, typically would enjoy in a bid for re-election.

Romney brought in $106 million in June, $35 million more than Obama raised that month, and the Democrats have warned they are in danger of being outspent in the run-up to the election.

Romney finance chief Spencer Zwick said donations have come from a broad spectrum of people including Republicans, independents and Democrats.

"We are well on track to raise the money to be successful in November," he said.

While big donors have powered much of the Republicans' fund-raising numbers, the Romney campaign said 94 percent of all donations received in July were for $250 or less.

Romney is to be formally nominated as the Republican candidate at the party's convention in Tampa this month. At that point, he can begin spending the massive haul in what may turn out to be the most expensive campaign.

He is running neck-and-neck with Obama in the polls. The former Massachusetts governor will soon announce his vice presidential running mate, which the campaign hopes will provide a boost of enthusiasm for the Republican ticket.

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