In order to insure that contractors working on federal or State funded projects are paying their employees accurately for work performed, all contractors who perform work on prevailing wage projects must furnish copies of certified payroll reports to the contracting agency. These certified payroll reports insure that the payroll records of the prime contractor, as well as those of its subcontractors, accurately reflect the hours worked, rate of pay (for both base rate and fringe benefits) and classification of work performed.