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Bear in mind Chak that the SM is more accurately referred to as a Strata Administrator because they can make no independent decisions and they take instructions from the EC and OC.
If you can get 25% (by entitlement) to sign a letter demanding an EGM then the SM has to organize one.
Make sure you submit motions that:
1) removed the power of the EC to authorize any spending above $xxx
2) No more spending by the SM or EC except what was approved by the budget at the AGM
3) to pursue any individual who has authorized Strata funds to be spent without a property authorized vote having occurred, and to pursue the said individual to recover from them said expenditure.
If you have the numbers calling an EGM is the quickest way to stop the spending as CTTT can take months to get any action, and the result of the EGM vote would strengthen your application at CTTT (it might also put the fear of god into these spenders if they think they might be personally liable for the spending)