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It is a conflict of interest for a board member to be an employee and also to vote on any board matters over which he has control or interest as an employee. It is not a conflict of interest for an employee to merely be on the board.
As a homeowner, you have a legal right to inspect all financial records and even conduct your own audit of those records.
A board of directors on their own or through their appointed manager may run the association in day to day operations including hiring employees they believe are necessary, unless your bylaws say they do not have that authority.
Property management if they are hired to work for the board only owe answers to the board. However as a homeowner you are entitled to answers from the board. IF the board refuses to answer and refuses you access to records to inspect them and audit them, then you have a right to sue the board and HOA for a declaratory judgment
(court order) to force them to allow you to inspect the records. You can also use the bylaws to your advantage to seek to remove board members in accordance with those bylaws or simply not elect the board members again. If you inspect the records and find they have mismanaged the funds, then as a homeowner you can sue the board for that mismanagement as well.
Based on the information provided, those are your options.