I have my forum set to the timezone I want (GMT -5) however that is not the time it displays? Does anyone know what is causing this and/or how to fix it?
Are you setting this in your User CP or ACP?? The ACP won't change it for you, you need to use the User CP setting.
What timezone is set in your user CP? (UCP > Edit options)
if want to have a different time zone, do it from the usercp, the usercp overrides the admincp. Only the guests use the admincp time as each user has selected their timezone.
Ah, is there any way to use the same timezone for all users?
Not that I know of but you want to just change that time up the top you could manually set the time on line 283 of global.php
$lang->welcome_current_time = $lang->sprintf($lang->welcome_current_time, $datenow.', '.$timenow);
Just change $datenow and $timenow to your own variables using the appropriate PHP functions and add your offset on there manually.