We just looked this up in the Official's Manual about 2 weeks ago. The correct TO reporting procedure is:
- give the appropriate signal for the type of TO (30 or 60 second)
- verbally indicate team color
- verbally and visually give the player number or head coach
- verbally and visually direct the timer to begin the TO period
I used to do 2, 3, 1, 4 but have now been retrained and am following the manual.