Inauguration, n.
Etymology: [L. inauguratio a beginning: cf. F. inauguration.]
1. The act of inuagurating, or inducting into office with solemnity; investiture by appropriate ceremonies. At his regal inauguration, his old father resigned the kingdom to him. Sir T. Browne.
2. The formal beginning or initiation of any movement, course of action, etc.; as, the inauguration of a new system, a new condition, etc.
Shades of meaning
Fernald has no entry of its own for inauguration; he lists it under beginning.
He lists it without comment; the entries above explain its neighbors.