Vice President-elect Mike Pence spoke to reporters Thursday as a final wrap-up to Donald Trump's transition process.

He said he, as well as the president-elect, were pleased to report that the transition wrapped up "on schedule and under budget."

"We will actually return some 20 percent of taxpayer funding back to the U.S. Treasury, and that is exactly in keeping with the president-elect's expectations going forward," Pence said.

"He's a businessman that knows how to sharpen his pencil, and I'm very pleased to report today that we were able to do that and restore those dollars to the Treasury."

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