Unrestricted Net Assets

What are 'Unrestricted Net Assets'

Unrestricted net assets are a group of items owned by the government with commercial or exchange value that have no external restrictions regarding their use or function. Unrestricted net assets appear in government accounting and are government-owned assets that can be utilized for any decided-upon purpose. This is in contrast to restricted net assets that are assigned to specific purposes.

BREAKING DOWN 'Unrestricted Net Assets'

Government accounting includes the principles and procedures used by local, state and federal governments for accounting purposes. Rules are established by the National Council on Governmental Accounting. Assets of local, state and federal governments are typically restricted to specific uses and purposes, however, unrestricted net assets fall outside this limitation.

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