(CNN)The General Services Administration has informed President-elect Joe Biden that the Trump administration is ready to begin the formal transition process, according to a letter from Administrator Emily Murphy sent Monday afternoon and obtained by CNN. The letter is the first step the administration has taken to acknowledge President Donald Trump's defeat, more than two weeks after Biden was declared the winner in the election. The move will allow the transition to officially begin, permitting current administration agency officials to coordinate with the incoming Biden team, and providing millions in government funding for the transition.