View the Dashboard, and click the Gear Icon in the Favorite Reports box. Here you will view the Managed Saved Reports table.
You can remove a report from Favorite Reports. Click on the Filled Star Icon, and the star will become empty, showing it is no longer a favorite. You can also delete a saved report you created from your list by clicking the Trash Icon. To delete a saved report that was shared by another user, click the Unlink Icon.
Return to the Dashboard, and you will no longer see the selected report in your Favorite Reports box.