We have used the Boltzmann kinetic equation for the phonon distribution function to analyze the relaxation kinetics of the spin system of a ferromagnetic insulator (F) lying on a massive dielectric substrate with high thermal conductivity. Under periodic heating of the spin system, the relaxation depends on the thickness of the F layer and on the frequency of the thermal source ω. When the thickness of the F layer is much greater than the phonon-magnon scattering length, the magnon temperature dependence on the frequency has two features related to specific characteristic times of the system. One of them determines the dependence in the low-frequency regime and is related to the average phonon escape time from the F layer to the substrate τ es . In turn, the highfrequency behavior is determined by the magnon-phonon collisions time τ mp . From the latter, the time of phononmagnon collisions τ pm can be found. In contrast, the response of effectively thin F layers is characterized by just one feature, which is determined by the time τ mp . Thus, based on the obtained theoretical results, the times τ es , τ mp , and τ pm can be deduced from experiments on the parametric excitation of spin waves by electromagnetic radiation modulated at frequency ω.