The New York State Society of CPAs announced today that ProPublica’s Cezary Podkul has won its Excellence in Financial Journalism Award for explanatory reporting.

Podkul was honored for his series Tobacco Debt: How Cash From Big Tobacco Went From Boon to Burden, which showed that states’ deals with investors yielded money upfront but problematic debts later. The first story in the series found that a handful of states promised to repay $64 billion on just $3 billion advanced.

The winners will be honored at a New York City luncheon in on May 1. Congrats to all.