The Austin Public Schools board approved a 7.87 percent total package increase for district principals over the next two years during a public meeting Monday.

That doesn’t mean principals are getting a 7 percent raise, however.

Human resources negotiated the latest round of contracts a little different compared to previous years, according to Human Resources Director Brad Bergstrom. Rather than focus on wage increases, both sides of the negotiating table look at benefits, retirement, insurance and wage as a total package.

The end result, according to district officials, ends up being more fair between bargaining units.

“We’ve taken the approach that each of those groups want different things in their contract,” Austin Superintendent David Krenz said.

The new contract covers 2014 through 2016. District officials will post a copy of the new principals contract on the Austin Public Schools website.

In other news, the district:

—Read a policy that codifies what the district already does concerning student activity accounts. According to Finance Director Mark Stotts, the school board technically oversees student activity budgets as part of the district’s overall budget, though student activity accounts don’t show up on annual audits.

Instead, the district requires much documentation and meeting minutes from student activities so district officials can keep track of each budget.

The Minnesota School Board Association recently suggested districts come up with a student account policy, according to Stotts.

—Pushed back discussion on its 2014 payable 2015 levy certification. Stotts said the Minnesota Department of Education has yet to calculate what the levy will actually be for Austin, though the school board must approve the levy by the end of the month.

School districts are required every year to send data to state officials who calculate each district’s levies based on funding formulas set by lawmakers.

Austin will likely discuss its levy certification at a Sept. 22 meeting.