UNC Chapel Hill Chancellor Holden Thorp's installation this past weekend was a $162,000 bash.
A university official told me today that while the exact cost won't be known until UNC-CH receives all its bills from vendors, the event had a budget of $162,975.
The event was a fancy affair held on Polk Place, the main quadrangle outside South Building, where Thorp and other administrators work.
A breakdown: About $25,000 was for the logistics of setting up chairs, tables, etc and preparing for 3,500 attendees; the university spent $23,000 on printing for invitations and other materials; and overtime costs for security from the public safety office accounted for another $19,000.
Other expenses included design work, postage and video of the event, as well as a reception on Polk Place after the ceremony.
In comparison, the installation event held in 2001 for Thorp's predecessor, James Moeser, cost about $142,000.
Both events were paid for with non-state funds, which means no taxpayer money was used.