At the very least your SM should be providing any member of the OC a copy of your balances (sinking and admin). If not on request, then at least at the AGM, you have an absolute right to know the state of the buildings’ finances.
Levies can be raised by approval 75% at a general meeting. If the OC vote against the special levy, then depending on the problem, the strata scheme would still need to address the issue anyway, so would probably be only able to do so by applying for a loan. This may result in increased levies over a period of time, rather than a once off special levy.