Timing belt and serpentine belt are 2 separate items.
Timing belt drives the cams. It's cogged.
Serpentine belt drives all of the accessories, like water pump, alternator, power steering pump, A/C.
Mk3's do not have a serpentine belt, they use individual v-belts. One for the water pump and alt. One for the power steering and one for the a/c. 3 in all.
You see that black cover that has that sticker with those letters 7M-GTE? Your timing belt is under that.
Timing belt is cheap but you should also replace the timing belt tensioner. That is $140 and is a dealer only item.
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