Inauguration

Word of the day: 

Inauguration - The act or process of formally admitting a person to membership or office
http://www.yourdictionary.com/

Someone came up to me at work and asked me what that word meant (people seem to think that because I have lived in England I will know random words like that), and I had never heard of it before.

Can't say that I really understand it even after I looked it up. How do you use it in a sentence?