Yes, TIMOTHY is a Scrabble word!

Letter values in Scrabble US: T 1, I 1, M 3, O 1, T 1, H 4, Y 4.

Is it a valid word?

TIMOTHY is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

grass with long cylindrical spikes grown in northern United States and Europe for hay
a disciple of Saint Paul who became the leader of the Christian community at Ephesus
a grass grown for hay

Also: herd's grass, phleum pratense.