If you are referring to the 2" engine warning indicator with lights and buzzer for low oil pres., high temp, low voltage, this stand alone parallel circuit gauge is non-adjustable and over time they have been notorious for going out of calibration and have been known to draw down other instruments, I would disconnect this and see what the voltmeter now says. (most of these have been disconnected permanently, the company that made them is long gone out of business. All newer boats use the engine ecm to do this function.