TMZ has the details of some financial documents in Britney Spears’ ongoing conservatorship case and they’re pretty shocking. Britney is earning plenty of cash on her high-energy Circus tour, but it’s also slipping through her fingers like water. She spent over $10 million from February to December of last year:

Britney Spears’ conservators filed legal papers today explaining Britney’s finances right down to the last penny — and let’s just say she’s got a lot of pennies.

From March to December Brit blew $447,633.69 on security alone. Six months of household repairs and maintenance ran her $49,387.22.

Britney also spent $625,000 to pay Kevin Federline’s lawyers, as ordered by the courts. In the docs, the payments are referred to as “Federline Fees.”

K-Fed ain’t doin too bad either — from March to December, Britney kicked over $178,818.00 in child support payments.

Grand total expenses for Brit between Feb. and December — $10,116,678.23.

But the best part: Britney definitely felt the Christmas spirit — she spent $3400 just to hang lights.

[From TMZ]

Is Britney’s enormous overhead part of the reason why she went on tour and is now branching out to dates in Europe? The lawyers really fleeced her in the custody battle and seemed to be making up reasons to bill more hours and spend more time in court. Britney was responsible for paying K-Fed’s legal bills too, and when he seemed to work out a deal on his own to accompany Britney on tour his lawyer, Mark Vincent Kaplan, was quick to go to the press and say that the arrangements weren’t yet worked out. Kaplan just seemed to be pissed that he wasn’t able the broker the deal with his own team and charge Britney tens of thousands for it.

There’s a somewhat related report in this week’s National Enquirer that claims that K-Fed would be willing to reconcile with Britney – if she had control of her own money. With her father as conservator Britney doesn’t have access to her wealth and it’s just not worth it for Fed-Ex to try to get back together. Last week we heard that $40k a month wasn’t enough for the money-hungry dad. He knows he could have a much more extravagant lifestyle with Britney, who surprised him with divorce papers in November, 2006, but the custody cash is as much as he’s going to get unless Britney gets out from under her dad Jamie’s thumb:

Britney Spears laid her cards on the table and told [Kevin]: I want a reconciliation, but first make a good faith move and dump girlfriend Victoria Prince. [Kevin declined due to Jamie’s conservatorship]

“If Kevin saw it was in his best interests, he’d dump Victoria,” said a close pal. “But he’ll never entertain a situation where he’s back with Britney and has to ask her dad for money. He cares deeply about his sons, yet knows he can be a good father to them whether he’s with their mother or not. But if Kevin can get back to that lifestyle with Britney he used to enjoy, using her money to raise his profile, he’ll reconcile in a heartbeat. But only if Jamie’s out of the picture as her conservator.”

[From The National Enquirer, print edition, Mike Walker’s column, May 25, 2009]

This guy had several high end custom-detailed luxury cars when he was with Britney, and was regularly seen out wearing six figure watches and ridiculous bling. He didn’t change overnight, but at least he stepped up to the plate to be a good dad to his young boys and put most of that aside for the time being. Britney might pine for the fantasy marriage she never had, but she’d do well to find another partner who is more interested in her and less interested in her cash. She divorced Federline for good reason.