New condo association member surprised by Board operations

Is there a government entity that governs condo associations? My condo association Board has been charging ongoing special assessments fees, three in the past two years. The first was for $4K and did not cover the work that had been promised (replacement of rotting wood, for example). Is there anyone who can help with this? I moved in to my condo unit years ago, am new to condo associations, and did not realize the immense level of control that exists.

The condo association was almost $100K in the black when I bought the unit. By the following year, they were almost $40K in the red. Other more involved condo association members have informed me of suspicion of stealing. I cannot believe the government lets this happen. They have just recently pushed two more assessments, claiming they are running out of money. I’ve seen the type of vendors they hire, and believe it’s really about the Board’s lack of business savviness. I don’t mean to slam anyone, but it’s the truth.

Some condo association members (not me at the moment) have a plan to get our current Board out of office, but the vote is not until the middle of next year. In the meantime, they have and may continue to siphon out so much unnecessary money from the condo association. We are a 20 condo unit association. I feel we shouldn’t have to wait until the next election to solve our issues, yet when this opinion is voiced we are basically told to ‘shut up’. It’s horrible. I’ll leave the community nameless, as they are good at doing wicked things to those who don’t value their skills and management.

Thanks ahead of time for any insight you can provide.