This article suggests use of:
1. Soapy Water
2. Bleach Solution
3. Plain Water

The problem with this is that the third bucket, if not VERY carefully managed can run a risk of contaminating the disinfected utensils - either through contaminated tubs, water, or accidental reverse use of tubs (this happens a lot with Boy Scouts).

My recommendation (and that of many state & local health departments and the Boy Scouts of America) is to use:
1. Warm Soapy Water
2. Warm Rinse Water
3. Lukewarm - not cold - Bleach Solution (min 1.5 teaspoons/gallon 70-90F water) for 2 minutes
4. Air Dry on sanitized surfaces or in mesh dunk bags (don't wipe dry - it would add yet another chance of recontamination)

Once dry there will be no residual chlorine or associated odor. Upon drying the chlorine will convert to a gas that dissipates into the air.

Yes, I know many feel that use of a bleach solution is overkill, but this is a simple way to prevent cross-contamination of utensils (fecal matter from unwashed or insufficiently washed hands, cold & flu germs, etc...).