It's one thing if you have to pull together material from several sources, including a few subordinates, to prepare the report. You have put a substantial amount of work into it and deserve the credit you will get because it has your name on it. But if all you did was a few edits to and formatting of someone elses's work, put their name on it - not yours.
And while you should not take credit for their work, it is perfectly acceptable for you to take credit for having trained, developed, and motivated that individual to be able to produce such a high-caliber report. That's your job as a manager. Your boss knows that.