We propose an operatorially exact formalism for describing the equilibrium and quantum-dynamical properties of many-electron systems interacting locally on a lattice, called "ghost rotationally invariant slave-boson theory" (g-RISB). We demonstrate that our theoretical framework reduces to the recently developed ghost Gutzwiller approximation (g-GA) at the mean-field level. Furthermore, we introduce the time-dependent mean-field g-RISB action, generalizing the time-dependent GA theory. Since the g-RISB is based on exact reformulation of the many-body problem, it may pave the way to the development of practical implementations for adding systematically quantum-fluctuation corrections towards the exact solution, in arbitrary dimension.