Hi Tim - The pulley does not have to be removed, nor the belt. I don't have my 318 any longer, and I checked my photo library, and no pics of the PTO clutch. If you look at the PTO clutch, you'll see three lock nuts (with plastic inserts most likely) that have springs behind them. Those are the adjustment nuts. (I've been told, but have not seen, some PTO clutches have four adjustment nuts.)
Around the outside diameter of the clutch, next to each spring loaded adjustment nut, there should be a slot. This is where you slip a 0.018" feeler gage into, and then tighten the adjacent nut to achieve a slight drag. You then repeat this procedure at each spring loaded nut location. Adjacent to each spring loaded nut, there is a slot for the feeler gage to slip into. After you have made the adjustment at all three (maybe four?) locations, it's a good idea to repeat the process twice more at each location. Making the adjustment at one location, affects the other two, so by repeating twice, the adjustment is fine tuned. Hopefully someone will post a picture. - Dave