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City of Aragon posts January 2026 financials showing monthly operating loss
Summary
City financial statements for January 2026 show total income of $68,372.19 and total expenses of $100,082.42 for the month, producing a monthly operating loss of $31,710.23 and a YTD net loss of $38,629.96; the notes state that many disclosures are omitted and "No assurance provided on these financial statements."
The City of Aragon’s financial statements for January 2026, included in the special meeting materials, list Total Income of $68,372.19 for January and Year-to-Date income of $705,675.25. Major revenue lines shown in the statements include SPLOST infrastructure receipts ($26,465.72 for January), SPLOST recreation receipts (line listed at $76,967.67), court fines and forfeitures ($22,692.54 for January; $123,036.68 YTD), and trash collection charges ($7,427.75 for January).
Total Expenses for January are shown as $100,082.42, producing a Net Operating Income (loss) of $-31,710.23 for the month and a Net Income YTD of $-38,629.96. The balance-sheet section lists total assets of $1,177,919.95, including bank account balances of $349,565.13 and fixed assets net of depreciation of $687,327.26. Total liabilities are $334,589.63 and total equity $843,330.32.
The notes to the financial statements state the file does not include a statement of cash flows and omits many disclosures normally accompanying modified cash-basis financial statements; the notes explicitly say, "No assurance provided on these financial statements." That limits the statements’ use for detailed audit or assurance purposes.
The minutes do not link the capital purchases listed in New Business (two patrol vehicles and one fire truck) to a specific funding line in the January statements. The statements list several revenue sources (SPLOST, fines, fees) that typically fund capital and operating needs, but the minutes do not identify which account will pay for the purchases.
The council adjourned after the financial presentation; the minutes contain no recorded vote tallies for the procurement motions and no procurement contracts or vendor names.
