Which of the following is a method for disposing of surplus property?

Holding a private auction is a recognized and effective method for disposing of surplus property. This approach allows public entities to sell items directly to interested buyers, often achieving a fair market value for the goods being sold. Auctions can draw competitive bids, which can sometimes exceed expected value, thus maximizing revenue from the sale.

Additionally, a private auction can provide a controlled environment where the sale process can be managed more efficiently compared to open sales or other methods. It also promotes transparency and compliance with public bidding laws, making it a preferred choice for many municipalities and public organizations looking to responsibly and efficiently manage surplus property.

In contrast, selling to employees may raise ethical questions or potential conflicts of interest, while giving property away to neighboring organizations may not be fiscally responsible or could violate policies regarding asset disposal. Storing surplus property indefinitely typically incurs ongoing costs and is not a proactive approach to asset management.