I agree with lewm that cartridges are not inherently balanced (only 2 terminals)
@hagtech A balanced source will not have a center tap. This is because a center tap will decrease the Common Mode Rejection Ratio (CMRR) on account of the fact that the center tap (even if caused by two matched resistors) can never truly be center. So phono cartridges are indeed a balanced source, as are dynamic microphones (which are similar in that they are simply a moving coil attached to a diaphragm). Tape heads are also a balanced source (whether used that way or not).
One proof of a balanced source is to reverse its connections at the source. This will merely invert phase. If its a single-ended source, the reversal will result in a loud buzz. The ground connection is only used for shielding so no signal currents are passed through the ground. This is another reason why center taps are never used since they will result in some signal current in the otherwise neutral shield.
Almost all tonearms have 5 wires; 4 signal wires and the ground. These are balanced sources; when used single-ended you wind up with that 'ground wire' and a buzz will result if its not connected. A real single-ended source would not need a ground wire. But if you are connecting a balanced source to a single-ended input, you have to sort out what to do with the ground connection and using the ground wire is the best technique.