Timm was raised in Moville, Iowa and is now a resident of Sioux City, Iowa. He was a high school sports referee for 23 years. Timm and his wife, Jean, have two sons and a daughter. Timm has industry experience in public accounting, auditing, not-for-profit organizations, a large public utility, and a warehousing and transportation company. His roles have included Controller, Executive Director, and Executive Vice President. Founder of Timm Funk Associates in 2000, Timm has provided CFO services to 11 different companies, performed project work for 5 others, and provided litigation support to local law firms involving 20 different business income loss claims.