Each school has its own requirements. Please urge your student to carefully research and follow those. Some schools prohibit recording manipulation and editing, using cell phone and a good microphone is usually enough not only for music supplemental recording, but conservatory applications and pre-screens…
My kid submitted music supplemental with majority of her academic applications and got to see her admissions file at Yale last year. Evaluation of her music supplemental was done by school’s band director who listened to all of the pieces she submitted and provided comprehensive feedback to all excerpts.
I assume the national award you mention is Young Arts, Fischoff competition or a similar level award, it will definitely give his application more edge. Good luck!