I talked with Robert from customer support and he said that team members that have access to Projects are allowed to create NEW project template but cannot create project templates based on active projects. This doesn't really make sense to me since templates don't actually affect the active project. Please allow team members to create project templates for any situations like admins can.

We have monthly maintenance agreements for a certain number of hours per month and I find it easiest to do it 1 project per month per client to keep track of time and not clutter things with a huge list of "done" tasks

So I usually save the previous month, create a new project then import the tasks from the previous month that are still outstanding