in line with the faint white stripe on the belt? If so that will not be correct as the line on the belt is only used for the initial install of the belt and will only line up with the dot after many thousands of revolutions. The true test of proper alignment of the belt with the cams is to place the engine at TDC on the compression stroke and the marks on the backing plate will be in close alignment to the dots on the cams as well as the dot on the crank pully. Then count the teeth between the dots as shown in the manual and see if they agree.
What degrees before TDC are you reading with a timing light. I never use the PTU to check with a light (too irratic) instead I use the procedure on the lable under my hood. That uses a short piece of spark plug wire from the spark plug to the pulled coil for #1 cylindere