Monk was placed in temporary charge of the Swans in February before guiding the team to a 12th-place finish in the Premier League table.
Despite the threat of relegation last term, Monk believes that the campaign should be considered a relative success.
"Football's a strange thing. You go back a few months and you would say last season was a poor season judging by the standards we've set," he told the South Wales Evening Post.
"Then you see we finished up only five points behind our best-ever total in the Premier League and four points behind last year (2012-13), both of which were classed as really good seasons.
"When you consider we had the Europa League and the change of manager and everything on top of that, it's hard not to consider it a decent season."
Monk was appointed Swansea's permanent manager on a three-year deal at the start of the month.