does it make sense?
Go to the beginning. Are you using one of the adjustable boring heads that are widely available?
If so, you need to center the machine spindle over the bore to be enlarged first. You would get the spindle centered over the hole, set the boring head to it's own zero and put it into the spindle.
You must not move either the spindle or the table after having centered the spindle or you'll have to recenter it.
With the boring head in the spindle all tight and ready to go you should be able to lower your cutter, machine running, into the bore to be enlarged without the cutter making contact, or no more than a slight shaving contact. Now you would KNOW that everything is centered. This is more or less figurative but not a bad idea for a beginner to do - you need to know that when you go to cut you will be cutting the hole equally at all points of the circle. Anything else will result in an oblong hole.
Stop the machine and crank in your desired .005" on the boring head small micrometer setting device. They usually are pretty reliable. Set and lock the new cutting diameter and go for it.
Wait, you say you don't have a boring head? Go get one.