BOSTON -- A review by Team 5 Investigates of state campaign financial disclosures reveals that the vast majority of large political donations to both Boston mayoral candidates comes from people who do not live in the city.

Out-Of-Town Money Funding Boston Mayor’s Race

From Jan. 1 through Oct. 15 of this year only 26 percent of contributions over $200 given to Boston Mayor Thomas M. Menino came from Boston residents. Seventy-four percent came from people who reside in other cities or states. Donors To Thomas Menino From Outside Boston (pdf)

The numbers were equally startling for challenger Michael Flaherty. Sixty-eight percent of his campaign contributors giving $200 or more live out-of-town. Thirty-two percent of his donations over $200 came from Boston residents. Donors To Michael Flaherty From Outside Boston (pdf) | Donors To Sam Yoon From Outside Boston (pdf)

“Special interests fund the lions share of our political campaigns from state and big city level and federal, of course,” said Pamela Wilmot of Common Cause of Massachusetts. “That's the way the game is currently played.”

Menino defended his contributors.

“Many of these folks use to live in the city of Boston,” he told NewsCenter 5’s Janet Wu Thursday. “We've developed relationships over the years. They do business in the city of Boston also. They have investments in our city and they want to protect their investments and they want a city government that is run properly. And that's why they invest in my campaign.”

Flaherty insisted he had no choice but to rely on out-of-town contributors.

“I'm running against a 16-year incumbent who rules with this city with an iron fist,” Flaherty said. “There's a fear factor. There are a lot of people afraid to make a contribution to the Flaherty campaign.”

Boston voters who spoke with Wu weren’t surprised.

“That's sort of how politics is. I don't think it's going to be much different here,” one voter said.