What type of fund balance is considered available for any use after all other categories?

The unassigned fund balance represents the portion of a government’s fund balance that is not designated for any specific purpose and is therefore available for any use after accounting for all other categories. It is essentially the remaining funds that have not been allocated or restricted through other measures, allowing flexibility in budgeting and spending.

Unassigned fund balance is particularly important because it can be utilized in times of financial need, for unexpected expenses, or to balance the budget if revenues fall short. This category acts as a safety net for a governmental entity, enabling it to respond effectively to financial challenges or opportunities without the need for additional revenue or expenditure adjustments.

In contrast, committed, restricted, and assigned fund balances have specific uses dictated by law, board resolutions, or management decisions, thereby limiting their availability for general purposes. Understanding the nature and characteristics of the unassigned fund balance helps financial officers in strategic planning and fiscal management.