Headings are best written in ‘sentence case’, according to most style guides nowadays.
If you would like your report to look contemporary, keep unnecessary capital letters to a minimum. This helps it be readable and avoids an ugly ‘Manhattan skyline’ appearance.
The Australian Government Style Manual, for example, prefers ‘sentence case’ (to ‘title case’) for headings. Sentence case (like a sentence) has a capital letter for just the first word and any ‘proper nouns’ (such as the region of ‘Black Swan’). The Contents table will then also be in sentence case.
However, if your organisation prefers to capitalise every word in report headings (‘title case’), here’s a tip. Capitalize My Title is an online tool that shows which ‘little words’ should and should not be capitalised.
And by the way, the word ‘table’ can be omitted from ‘Contents table’, too. Just the word ‘Contents’ is required nowadays.
At Hit Send we edit and proofread reports more than any other type of document. Why not drop us an email and see how we might help with your next project?