Posted:
The board is there to make decisions managing the association's resources (that's why you vote for them). Spending $49K on security isn't necessarily the problem, but homeowners should know what goes into that amount. Do you have video cameras throughout the community? Are there regular drive-throughs of security officers? Is someone posted 24/7 at an entrance gate to the community? And so on.
You said you moved into this community a year ago, so if you haven't already done so, start reading your documents to see how your community's supposed to be run (usually that's in the bylaws). You should know what the association's responsible for, what's considered common area (e.g. streets), what homeowners are responsible for, documents they can request for review, length of terms for board members, what they're empowered to do, etc. There should also be budgeting information - when is the association's fiscal year, do homeowners get copies of the annual budget (preferably itemized), can they vote on assessment increases if they exceed a certain amount or percentage over the previous year? Etc., and so forth.
In this case, your Spidey sense might be correct in that homeowners are getting little to no information on these services, but start with getting a copy of the security contract and previous board meeting minutes to follow how and why the company got hired. The minutes are a summary, not a blow-by-blow of who said what, so it wouldn't hurt to talk to your neighbors for the backstory, what they've seen, and if they're happy with the service. As you know or should know, security doesn't guarantee you'll be crimefree but can reduce the risk.
Then go to the next board meeting and ask questions. Some have resident forums, where 10-15 minutes are reserved for owners to sound off on any association issue. You usually don't get an answer right away (some questions do require research), but depending on what you ask, you might get a response or those board members might get snippy. That's ok, that should prompt more discussion with the neighbors, who may have let this stuff go on for too long and it'll take a newcomer like you to light a fire under their behind. This may also mean you'll make some enemies, so decide right now how far you're willing to go. Good luck!
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius