Whilst I can understand your new Executive Committee’s position, the maintenance / repair / replacement of windows in common property (external) walls is the responsibility of the Owners Corporation (O/C). This responsibility is absolute, is not conditional upon the availability of funds, and should be attended to as quickly as possible lest someone is injured (or worse) as a consequence.
I don’t suppose there are sufficient funds in your Plan’s Administrative Fund, but the O/C can transfer monies between Funds so long as it implements a repayment plan within 3 months of the transfer.
Finally, O/Cs are permitted to borrow funds in circumstances such as those faced by your new E/C, and one option there could be to contact a specialist strata financier, who can not only arrange the funds but can also assist your E/C to put together a levy contributions arrangement (e.g. a Special Levy) to meet the repayment terms. As always shop around, but one such company is Lannock Strata Finance whose advertisement appears at the bottom of this website’s home page.
Whatever decision your E/C now takes, it must not be to do nothing!!